Gold jumped to the mid-$4,600s while silver spiked to $94 as sudden tariff headlines sparked a sharp rush into safe assets.
Gold rose 1.6% on Jan 19, 2026, touching an intraday high of $4,689/oz, while silver climbed 3.4% to $94/oz.
The surge followed unexpected U.S. tariff threats linked to Greenland and reports of potential EU countermeasures.
With U.S. markets closed for a public holiday, thinner trading conditions intensified the price reaction across precious metals.
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What Sparked The Sudden Price Jump
The rally began after reports that the U.S. planned new tariffs tied to Greenland, catching markets off guard.
Within hours, European officials signaled possible retaliation, adding to uncertainty.
Traders responded quickly, shifting funds into assets that typically hold value during political shocks.
Gold and silver reacted first, with buying accelerating as headlines spread.
How Big The Move Was And Why It Looked Extreme
The price action stood out for both speed and size. Gold’s 1.6% intraday gain pushed it to a fresh record.
Silver’s 3.4% jump, on the other hand, marked one of its strongest daily moves this year.
Exchange-traded funds linked to precious metals recorded fresh inflows, while spot markets showed strong physical demand.
Because U.S. equity markets were closed for Martin Luther King Jr. Day, fewer active traders meant smaller orders moved prices more than usual.
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What This Means For Investors Going Forward
In the short term, moves like this often cool if political tensions ease or headlines fade. However, if tariff plans turn into formal policy, risk levels across global markets could stay elevated.
That environment tends to support demand for gold and silver, especially if ETF inflows and central bank buying continue.
Conclusion
The Greenland tariff shock set off a fast, headline-led rally that lifted gold and silver to record intraday levels. Future price direction will depend on political follow-through and the return of full market participation.
Before you invest in Gold, In the next few days we will release our next premium precious metals alert with key investor insights for 2026. We called the Gold rally before it happened, it’s important to understand what could happen next.
