Doha: Gold and silver prices surged to record highs on Monday, as investors flocked to safe-haven assets on intensifying tensions, after US President Donald Trump threatened to impose extra tariffs on European countries over the control of Greenland. Spot gold climbed 1.6% to $4,670.01 per ounce, after scaling an all-time high of $4,689.39.

According to Qatar News Agency, US gold futures for delivery jumped 1.8% to $4,677. Spot silver advanced 4.4% to $93.85 per ounce, after hitting a record high of $94.08. The increasing demand for these metals reflects a broader trend of investors seeking stability amidst geopolitical uncertainties.

In other precious metals, spot platinum added 1.9% to $2,373.08 per ounce, while palladium rose 0.5% to $1,809 per ounce. The surge in precious metal prices highlights the market's response to the potential economic impact of new tariffs and ongoing international tensions.