Gold (XAU/USD) continues its upward trajectory, hitting new record highs above $4,720 on Tuesday. This surge is largely driven by a heightened risk-averse sentiment among investors amid escalating trade tensions between the US and the European Union over Greenland's status. As uncertainties grow, market participants flock to safe-haven assets, bolstering gold's appeal.
The ongoing trade rift has significant implications for the currency markets, influencing the exchange rate dynamics between the USD and EUR. As gold prices soar, traders are closely monitoring developments, as further tensions could lead to increased volatility in both the precious metals and forex markets. Investors remain vigilant, anticipating how these geopolitical issues may impact future trading strategies.
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Data Source: FX Killer Analysis Team Updated: 2026-01-20 09:32
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.