Gold prices remained largely stable on Thursday after slipping earlier in the day, as geopolitical concerns and mixed signals from the United States kept investors cautious. While easing fears around immediate military action in Iran reduced some safe-haven demand, fresh uncertainty linked to U.S. interest in Greenland continued to support gold prices.
Spot gold was steady at around $4,619 per ounce, recovering from an intraday fall of nearly 1%. The precious metal had touched a record high above $4,642 earlier this week, highlighting strong investor appetite. Meanwhile, U.S. gold futures for February edged slightly lower, reflecting short-term profit booking.
Market analysts say gold’s overall momentum remains strong, with buyers quickly stepping in whenever prices dip. According to experts, ongoing geopolitical risks and policy uncertainty are keeping gold attractive, even when prices pull back temporarily.
One key factor supporting gold is renewed global attention on Greenland, after President Donald Trump repeated his view that the United States needs the strategically important island and expressed doubts over Denmark’s ability to safeguard it. Such statements have added to broader geopolitical unease in global markets.
At the same time, the U.S. has withdrawn some personnel from key Middle East bases as a precaution, amid ongoing regional tensions. However, Trump signaled a more cautious approach toward Iran, saying reports suggested the intensity of the crackdown on protests was easing. This softer tone reduced immediate panic buying in gold earlier in the session.
Adding to the mixed outlook, Trump decided not to impose tariffs for now on critical minerals like rare earths and lithium, instead directing officials to secure supplies from international partners. This move eased some trade-related worries but did little to weaken gold’s long-term appeal.
Gold traditionally performs well during periods of political uncertainty, economic stress, and lower interest rates. Investors are closely watching the U.S. Federal Reserve, which is expected to keep rates unchanged at its late-January meeting. However, markets are already pricing in at least two interest rate cuts later this year, a scenario that generally supports higher gold prices.
Other precious metals saw sharper moves. Silver fell nearly 2% after hitting a record high earlier in the day, as traders booked profits. Analysts warned that silver could underperform gold in the near term if prices normalize.
Platinum also slipped slightly after recently touching record levels, while palladium weakened further, reflecting broader volatility across the metals market.
As reported by usaharmony.com, gold’s ability to stay resilient near record highs shows that investors remain nervous about global stability. With geopolitical developments, central bank decisions, and policy signals all in play, the yellow metal is likely to remain in focus in the days ahead.
