Gold and silver hit record highs on Monday, driven by a flight to safety after U.S. President Donald Trump warned of extra tariffs on some European countries in a dispute over Greenland. Silver, gold ETFs and stocks jumped in overnight trading. ProShares Ultra Silver rose 10%; First Majestic Silver rose 7%; Hycroft Mining and Fortuna Silver Mines and Hecla Mining rose 6%; iShares Silver Trust rose 5%; Pan American Silver, ProShares Ultra Gold, Kinross, Agnico Eagle Mines, and Coeur Mining rose 4%; Endeavour Silver, Harmony Gold Mining, Anglogold Ashanti, and Barrick Mining rose 3%; Gold Trust Ishares, SPDR Gold ETF, and Gold Fields rose 2%.
Micron Technology shares gianed 2% in overnight trading. Micron has reported that the global memory chip shortage has intensified over the past quarter, driven by increased demand for high-end semiconductors used in AI infrastructure. The company’s executive vice president, Manish Bhatia, described the shortage as “unprecedented” and expects it to persist beyond 2026.
AppLovin shares sank 5% in overnight trading. Capital Watch refers to a short-seller report alleging illicit ties between AppLovin, Chinese loan platforms like Tuandaiwang, and figures involved in scams, suggesting money laundering via AppLovin's ad spending, with reports linking major shareholders to these funds.