Gold Hits Record High, Greenland Heats Up
Gold prices remained near all-time highs on Tuesday, hovering around $4,670 per ounce. Demand for safe haven assets remained strong as US-European trade tensions escalated, prompting investors to refrain from aggressively returning to riskier assets.
The latest spotlight comes from Greenland. Reports suggest Denmark is increasing its military presence in the region, while US President Donald Trump has reportedly not ruled out the use of force to strengthen control over the island. This situation has added to market unease as geopolitical risks are increasingly unpredictable.
On the trade front, Trump has also threatened additional 10% tariffs starting February 1st against eight European countries. These tariffs could reportedly rise to 25% in June if no agreement is reached that would allow the US to "acquire" Greenland. The European Union is also scheduled to discuss retaliatory measures at an emergency summit on Thursday.
In addition to geopolitical factors, investors are also awaiting the release of important US data this week, particularly the PCE inflation report. This data could provide clues about the direction of the Fed's interest rate policy and typically has a significant impact on the dollar's movement and the appeal of gold. Gold's rally this year continues its strong rally throughout 2025, when markets were repeatedly rocked by global tensions and concerns about policy stability. During the Greenland tensions (asd)
Source: Newsmaker.id
