Gold, silver hit peaks and stocks struggle on new US-EU trade fears 

Hong Kong: Gold and silver hit record highs on Monday while most equity markets fell after Donald Trump revived trade war fears by threatening several...

Hong Kong: Gold and silver hit record highs on Monday while most equity markets fell after Donald Trump revived trade war fears by threatening several European nations with tariffs over their opposition to the United States buying Greenland. 

The US president has fanned already-rising geopolitical tensions this month by insisting that Washington would take control of the North Atlantic island, citing national security needs. 

And on Saturday, after talks failed to resolve "fundamental disagreement" over the Danish autonomous territory, he announced he would hit eight countries with fresh levies over their refusal to submit. 

He said he would impose 10 percent tariffs on Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland from February 1 -- rising to 25 percent from June 1 -- if they did not agree to the takeover. 

The announcement drew an immediate response, with a joint statement from the countries saying: "Tariff threats undermine transatlantic relations and risk a dangerous downward spiral."