Backed by the demand for safe havens and the Weak dollar, gold prices hit a record high on Wednesday, surpassing $4,800 per ounce. The will of American President Donald Trump to seize Greenland threatened to reignite a trade war with Europe and to upset the NATO alliance.

Spot gold rose 1.2% to $4,821.26 per ounce at 2:26am GMT, after reaching a record of $4,843.67 earlier in the session. Gold Futures Contracts American for delivery in February gained 1% to 4,813.50 dollars the ounce.

“It's the loss of trust in the United States caused by the actions taken by Trump this weekend to impose rights of customs to European countries and increase its coercion in its attempt to take over Greenland.”

le cash price dropped from 1% to $93.59 per ounce, after reaching a record $95.87 on Tuesday.

Spot platinum has lost 0.7% to $2,445.96 per ounce after reaching a record of $2,511.80 earlier today, while palladium fell by 0.5% to $1,857.19