Financial markets experienced a wave of sharp fluctuations at the beginning of this week, reshaping investors' priorities globally. While markets were anticipating stability in supply chains, statements from the White House regarding Greenland ignited a new diplomatic crisis with Europe, pushing precious metals to unprecedented historical levels. Meanwhile, energy markets witnessed a price correction driven by signs of de-escalation in Middle Eastern conflicts.
First: Gold and Silver... Record Rise in a Time of Uncertainty
The surge in gold was not merely a fleeting reaction, but rather a "mass flight" to safe havens. The price of the yellow metal jumped by 1.5%, breaking the $4,689 per ounce mark, a new all-time high. Analysts believe this rise reflects anxieties surrounding the potential outbreak of an unconventional "US-EU" trade war.
Silver was not immune to this momentum, achieving exceptional performance with a 3.7% jump to surpass $94. This rally in metals wasn't limited to gold and silver; it extended to platinum and palladium, confirming that investors sense structural risks in the global economy, prompting them to cling to tangible assets.
Second: The Greenland Crisis: Tariff Pressures Revive Tensions with Allies
These disturbances come against the backdrop of US President Donald Trump's threats to impose steep tariffs on European countries (primarily Denmark) unless negotiations are opened regarding the acquisition of Greenland. This escalation has revived memories of the protectionist trade policies previously pursued by the US administration, raising concerns about damage to transatlantic economic relations, which has made gold the only viable hedge.
Third: Oil and Politics: The Risk Premium in the Iranian File Declines
In contrast to the volatility in the metals market, oil markets have experienced a cooling-off period. Brent crude has fallen to $63.6 per barrel. Analysts attribute this decline to a change in the tone of US rhetoric towards Tehran. President Trump's positive signals regarding the handling of internal protests in Iran quickly evaporated the "risk premium" that had been driving up prices due to fears of supply disruptions.
This relative calm reflects a new reality in the energy market, where prices are now influenced as much by tweets and instant political messages as by supply and demand data.
Technical analysis: Recent developments confirm that gold remains the safe haven during diplomatic crises, while oil remains hostage to political agreements in producing regions. Traders are now awaiting the official European response, which will be the next driver for commodity prices for the remainder of the week.
