New york: Gold and silver prices surged to record highs today, as investors turned to safe-haven assets on intensifying tensions, after US President Donald Trump threatened to impose additional tariffs on European countries over the control of Greenland.

According to Oman News Agency, spot gold climbed 1.6% to $4,670.01 per ounce, after reaching an all-time high of $4,689.39. US gold futures for February delivery jumped 1.8% to $4,677. Meanwhile, spot silver advanced 4.4% to $93.85 per ounce, after hitting a record high of $94.08.

In other precious metals, spot platinum added 1.9% to $2,373.08 per ounce, while palladium rose 0.5% to $1,809 per ounce.