Spot gold surged to an all-time high of $4,689 per ounce while silver climbed to $94/oz as traders reacted to fresh tariff announcements. The policy shift—introducing 10% duties on goods from Denmark, Norway, Sweden, France, Germany, UK, Netherlands, and Finland starting February 1, 2026, escalating to 25% by June amid geopolitical tensions—sent shockwaves through global markets. European equities took the hit hard: Germany's DAX fell 1.1%, France's CAC dropped 1.3%. The move underscores growing trade friction, pushing investors toward traditional safe-haven assets like precious metals. For crypto markets, this kind of macroeconomic uncertainty typically influences capital flows into alternative assets as investors hedge against currency volatility and policy risk.