Gold Rally Cools Near Record as Trump Tempers Greenland Threat

Core Viewpoint - Gold prices have experienced a significant rally, reaching an all-time high of $4,888.42 per ounce, but have recently cooled following comments from President Trump regarding the acquisition of Greenland [1][3]. Group 1: Market Reactions - The dollar showed volatility while gold prices slightly decreased after hitting record levels [1]. - The Greenland crisis and US threats against NATO allies have contributed to a 75% surge in gold prices over the past year, driven by central bank purchases and geopolitical tensions [3]. Group 2: Economic Context - President Trump emphasized the importance of acquiring Greenland for collective security and portrayed his economic policies as beneficial for the US economy, suggesting they could serve as a model for Europe [2]. - The ongoing geopolitical tensions and expectations of interest rate cuts are expected to keep gold prices on an upward trajectory, with investors likely viewing any price dips as buying opportunities [4]. Group 3: Commodity Performance - As of 10:58 a.m. in New York, spot gold prices rose, while silver prices declined after reaching an all-time high [5]. - Platinum prices exceeded $2,530 for the first time, and copper approached $13,000 per ton, supported by forecasts of continued investment flows into the US [5].