Asian stock markets continued to fall amid threats by the United States to annex Greenland. At the same time, Japanese government bonds recovered sharply, softening the previous day’s decline.
Wall Street fell more than 2% overnight, and the US dollar posted its most significant monthly decline in a month.
Against this background, investors rushed to gold as a safe asset. The price of gold rose 2.1%, reaching a new record of $ 4,865 per ounce.
The European Union will hold an emergency summit in Brussels on Thursday to discuss the issue. One option is a package of tariffs on US imports worth 93 billion euros, which could automatically take effect on February 6, after a six-month suspension.
The other option is the so-far unused “Anti-Tax Instrument” (ACI), which could restrict access to public tenders, investments, or banking activities, as well as trade in services, where the US has a predominance with the EU, including digital services.
