Gold prices advanced to record levels this week as markets responded sharply to a new wave of geopolitical risk, with investors seeking safety in physical assets amid the threat of tariffs between the US and several European nations. The catalyst came from an unexpected diplomatic standoff centred on Greenland, with the US administration announcing a tariff regime set to begin in early February.
The tariffs, initially set at 10% and potentially rising to 25% by mid-year, are aimed at eight European countries, including Germany, France, the UK, and the Nordic nations. The announcement follows a dispute over rights and military access in Greenland, which has grown in strategic importance. The move has drawn strong criticism from European leaders and triggered early-stage talks on possible retaliation.
Investors responded by shifting capital out of equities and into gold and silver, pushing both to all-time highs. Spot gold traded as high as $4,700 per ounce in intraday markets, with silver also reaching unprecedented territory.
Cora Gold Ltd (LON:CORA), together with its subsidiaries, explores for and develops mineral projects in West Africa. The company primarily explores for gold deposits. Its flagship project is the Sanankoro Gold project located in the Yanfolila Gold Belt, Southern Mali.
