Metals Fly After Trump Davos Speech

After minor pullbacks, silver and gold have resumed their ascent with force. The immediate catalyst appears to be Donald Trump’s renewed push to acquire Greenland — seemingly by whatever means necessary. Speaking in Davos, Trump reiterated his intentions and reignited tariff concerns. One standout moment came when he was asked how far he would be willing to go to secure Greenland. His response: “You’ll have to find out.”

Investors are also speculating that the next Fed chair, once Powell’s term ends in May, could be more aligned with Trump’s preference for increased liquidity. That prospect would further support gold, not just as a hedge against geopolitical risk, but as ongoing protection against inflation.

According to CNBC, Trump has also flagged further progress, claiming a framework for a Greenland deal has been discussed. This remains unconfirmed. As events unfold, tariff tensions may escalate or ease, adding another layer of uncertainty — alongside developments involving Venezuela. Trump has stated that profits from oil extraction would benefit Venezuela, arguing they would earn more with his assistance than they otherwise would over the next 25 years. As with much of this, the reality remains to be seen.

Below is a snapshot of gold priced in AUD on an hourly basis. Note the sharp rebound and the large gap seen this morning. Gaps like this typically occur when buying pressure is so strong that price effectively jumps to a new level, rather than trading through each increment.