Gold eases as tariff risks fade, US$7,000 on the table
Market watchers caution that heavy speculative bets could trigger price corrections if sentiment falters
Bullion slipped as much as 1 per cent in Asian trading on Thursday (Jan 22) morning after US President Donald Trump pulled back on threats to impose tariffs on European nations, adding that a “framework of a future deal” over Greenland has been made.
The precious metal pierced the US$4,800 mark the day prior, after three days of consecutive gains on escalating concerns over the US’ bid to annex the Danish territory.
Spot gold retreated 1 per cent to US$4,785.53 as at 8.19 am in Singapore. Spot silver slid 1.9 per cent to US$91.26, while spot platinum and palladium fell.
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