Gold Price Jumps After Trump Tariff Shock and Market Uncertainty

Gold Price Tops and Silver Hits Record on Tariff Fears, Where BTC Lies

The gold price has surged to a fresh all-time high, crossing $4,660 per ounce during weekend futures trading, as global markets reacted to new U.S. tariff threats. Traders looking for safe haven assets quickly contributed to the rising of the metal. 

Source: Trading Economics

Silver followed gold’s lead, surging above $94 per ounce and posting a 31% gain so far in 2026. Strong demand for silver in solar panels and electronics, combined with a global supply deficit, has added fuel to the rally. Copper, Steel, and Platinum also hold strong. 

While precious metals are showing continuous strength, risk assets like stock market and crypto are resting differently, showing comparatively low potential. 

So, how this volatility in the market will impact in a longer term. Is it the start of a major rally which generally follows the downturn in the initial phase or hinting towards another crash after the recent one of 2025?

Tariffs War: What’s Causing Fear and Rally at the Same Time

The sharp rise in the gold price followed President Donald Trump’s announcement of new tariffs on European imports. The plan includes a 10% tariff starting February 1 on goods from countries such as Germany, France, the UK, and the Netherlands, rising to 25% by June 1. 

The move is linked to Trump’s demand that the U.S. secure purchase rights over Greenland, a move that has alarmed European leaders.

In response, European officials are reportedly preparing an emergency summit and considering up to €93 billion in retaliation. This sudden escalation in trade tensions pushed investors toward safe-haven assets, lifting the gold price sharply while pressuring risk assets.

Traditional And Crypto Markets: Both Are Suffering 

Digital Asset and Stock, both markets are heavily dependent on the traders sentiments and geopolitical conditions. New tariffs raise costs for businesses, threaten profits, and increase the risk of a broader trade war, which hurts growth expectations and increases sanctions’ fear. 

Source: Trading View

Reacting to this, the U.S. stock futures declined. The S&P 500 dropped 0.7% while Nasdaq 100 fell by 1.1%. Dow Jones also got influenced by the news and traded 0.6% down on the day. All major indicators moved lower on tariff concerns. 

Talking about the cryptocurrency market, it also dropped 2.66% to $3.14 trillion. Bitcoin, which recently started to gain above $96,000, fell to $92,711 (-2.45%). Other major assets like Ethereum (-2.96%), BNB (-2.25%), XRP (-4.49%), and Solana (-6.35%), are also triggered sharply. 

Over $500 million in leveraged crypto long positions were liquidated within an hour, as traders reacted to falling equities, low weekend liquidity, and rising geopolitical risks.

On the other, institutional interest in digital assets with ETF inflows remains strong. On-chain data shows large holders continuing to accumulate, suggesting confidence in a rebound.

What’s For Next?

Analysts remain bullish on precious metals, with UBS projecting the gold price could reach $5,000 per ounce if inflation risks persist. 

With the fear of tariff war, the weakening of traditional currencies including U.S. dollar, also gathers more uncertainty. In this scenario, possibilities of risky assets to fall further and increasing demand and price in physical metals looks genuine. 

However, whatever comes next will be directly bound to sentiments, and market behaviours also changed over the time, so predicting accurate things from here looks difficult, but possible in a near time.