Gold holds near record high above $4,600 per ounce
Gold and silver traded near record highs on Tuesday, as U.S. President Donald Trump's threats to acquire Greenland soured global sentiment and sparked a rush into safe-haven assets.
Spot gold was up 0.1% at $4,675.32 per ounce, as of 0336 GMT, after scaling an all-time high of $4,689.39 in the previous session. U.S. gold futures for February delivery climbed 1.9% to $4,680.30 per ounce.
Spot silver fell 1.4% to $93.33 an ounce, after hitting a record high of $94.72 earlier in the session.
The dollar retreated to its lowest in a week after tariff threats triggered a broad selloff across U.S. stocks and government bonds.
Gold also found support as concerns lingered around the Federal Reserve's independence with the U.S. Supreme Court this week expected to hear a case around Trump's attempt to fire Fed Governor Lisa Cook over alleged mortgage fraud.
The Fed is broadly expected to maintain interest rates at its January 27-28 meeting despite Trump's calls for cuts. Gold, which does not yield interest, typically performs well during periods of low interest rates.
Among other precious metals, spot platinum slid 1.8% to $2,331.20 an ounce, while palladium dropped 2% to $1,804.15.
Reuters
Gold and silver traded near record highs on Tuesday, as U.S. President Donald Trump's threats to acquire Greenland soured global sentiment and sparked a rush into safe-haven assets.
Spot gold was up 0.1% at $4,675.32 per ounce, as of 0336 GMT, after scaling an all-time high of $4,689.39 in the previous session. U.S. gold futures for February delivery climbed 1.9% to $4,680.30 per ounce.
Spot silver fell 1.4% to $93.33 an ounce, after hitting a record high of $94.72 earlier in the session.
The dollar retreated to its lowest in a week after tariff threats triggered a broad selloff across U.S. stocks and government bonds.
Gold also found support as concerns lingered around the Federal Reserve's independence with the U.S. Supreme Court this week expected to hear a case around Trump's attempt to fire Fed Governor Lisa Cook over alleged mortgage fraud.
The Fed is broadly expected to maintain interest rates at its January 27-28 meeting despite Trump's calls for cuts. Gold, which does not yield interest, typically performs well during periods of low interest rates.
Among other precious metals, spot platinum slid 1.8% to $2,331.20 an ounce, while palladium dropped 2% to $1,804.15.
Reuters
Gold and silver traded near record highs on Tuesday, as U.S. President Donald Trump's threats to acquire Greenland soured global sentiment and sparked a rush into safe-haven assets.
Spot gold was up 0.1% at $4,675.32 per ounce, as of 0336 GMT, after scaling an all-time high of $4,689.39 in the previous session. U.S. gold futures for February delivery climbed 1.9% to $4,680.30 per ounce.
Spot silver fell 1.4% to $93.33 an ounce, after hitting a record high of $94.72 earlier in the session.
The dollar retreated to its lowest in a week after tariff threats triggered a broad selloff across U.S. stocks and government bonds.
Gold also found support as concerns lingered around the Federal Reserve's independence with the U.S. Supreme Court this week expected to hear a case around Trump's attempt to fire Fed Governor Lisa Cook over alleged mortgage fraud.
The Fed is broadly expected to maintain interest rates at its January 27-28 meeting despite Trump's calls for cuts. Gold, which does not yield interest, typically performs well during periods of low interest rates.
Among other precious metals, spot platinum slid 1.8% to $2,331.20 an ounce, while palladium dropped 2% to $1,804.15.
Reuters
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Gold holds near record high above $4,600 per ounce
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