Spot Silver held within striking distance of an all-time high of $95.87/oz. on Wednesday amid simmering tensions between the US and Europe over US President Donald Trump’s push to take over Greenland.
Trump said over the weekend that the US would impose a 10% tariff on imports from several EU countries that oppose the Greenland proposal. That levy will take effect on February 1st.
Then, the duty would be increased to 25% on June 1st and remain in place until an agreement is reached on what Trump called the “complete and total purchase” of Greenland.
Trump said earlier this week there was “no going back” on his objective to control Greenland. Then, he noted that “we will work something out where NATO is going to be very happy and where we’re going to be very happy.”
Meanwhile, European leaders pushed back against the US tariff threats. They described the measures as undesirable and warned of retaliation if needed. French President Emmanuel Macron urged Europe to adopt an “anti-coercion instrument” to counter economic pressure.
Spot Silver was last up 0.10% on the day to trade at $94.67 per troy ounce.
Investors are now waiting for comments from US President Donald Trump at the World Economic Forum in Davos. His speech is due at 13:00 GMT, while traders expect it to guide the next short-term move in Silver.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
