Gold (XAU/USD) experienced a modest advance during the North American trading session on Wednesday, rising 0.25% as it stabilized near $4,770. Earlier in the day, the precious metal reached a new all-time high of $4,888 before pulling back. The shift in sentiment was influenced by US President Donald Trump, who softened his stance on the controversial purchase of Greenland, impacting broader market dynamics.
The exchange rate for gold remains sensitive to geopolitical developments, and Trump's more conciliatory tone suggests a reduced risk environment, which typically supports gold prices. As traders adjust their positions, the focus will likely remain on upcoming economic data and geopolitical events that could further sway the XAU/USD pair in the near term.
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Data Source: FX Killer Analysis Team Updated: 2026-01-21 21:33
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.