Gold prices hit a record high of $4,891.10, then dipped slightly after President Trump stated he would not use force to acquire Greenland. Silver prices also surged, reaching $95.78 per ounce. Geopolitical uncertainty and demand for rare-earth minerals are driving the rally, with gold expected to hit $5,000 soon. The move away from the U.S. dollar by major economies is also boosting gold and silver demand. The bull market for gold and silver is mature, but price floors during bust cycles are predicted to be much higher, with silver estimated at $50-$60 and gold at $3,000-$3,500.

Read more at Yahoo Finance: Gold and Silver Hit New Record Highs on Greenland Crisis. 3 Factors That Will Keep Driving Demand.