Gold, Silver Prices Soar to Records as Trump's New Tariff Threats Revive 'Sell America' Trade

Investopedia • January 20, 2026 • business

Key Points:

President Donald Trump threatened to impose escalating tariffs on select European countries unless the U.S. gains control of Greenland, causing financial market jitters.
Safe haven assets surged, with gold futures hitting an all-time high of $4,755 per troy ounce and silver prices also reaching record levels, while major U.S. stock indexes declined by more than 1%.
The U.S. dollar weakened nearly 1%, and 10-year Treasury yields rose above 4.3%, signaling investor concerns about U.S. policy volatility and potential international divestment.
The Cboe Volatility Index (VIX) climbed above 20, indicating heightened market uncertainty, amid ongoing tariff threats and geopolitical tensions throughout President Trump’s