Gold prices surged to a record high above $4,800 an ounce on January 21, supported by strong safe-haven demand and a softer dollar.
Spot gold rose 1.2% to $4,821.26 an ounce by 02:26 GMT after reaching a session peak of $4,843.67. U.S. gold futures for February delivery gained 1% to $4,813.50 an ounce.
According to Reuters, the rally reflected growing unease over Washington’s recent actions. The rise in gold prices followed a loss of confidence in the U.S. linked to tariff threats against Europe and increased pressure surrounding Greenland.
Markets were reacting to fears of escalating global tensions. Investors...