Risk aversion sentiment heats up, with spot gold hitting a record high of $4,689/ounce, and silver also surpassing $94/ounce. What is the driving force behind this? Trump announced an aggressive trade policy—starting from February 1, 2026, imposing a 10% tariff on goods from major European economies such as Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland, which will further increase to 25% in June until the Greenland purchase agreement is reached.
This wave of tariff threats directly impacted European stock markets. The DAX index fell by 1.1%, and the French CAC
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