Gold prices (XAU/USD) declined sharply, dropping below $4,800 to around $4,790 during the early Asian session on Thursday. This retreat follows a record high of $4,888, as market sentiment shifts after U.S. President Donald Trump eased concerns over potential tariffs on European goods. His announcement of a new framework for a Greenland deal has further impacted investor confidence.
The change in Trump's stance has influenced trading dynamics, prompting a sell-off in gold as traders reassess their positions. The movement in the gold market has significant implications for the USD/EUR exchange rate, as a stronger dollar typically weighs on gold prices. Analysts are closely monitoring these developments, as any further shifts in U.S. trade policy could continue to affect the precious metal's performance in the coming sessions.
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Data Source: FX Killer Analysis Team Updated: 2026-01-22 01:45
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.