Gold price breaks $4,800 as Greenland standoff rattles markets, Davos in focus
Spot gold surged past $4,800 an ounce Wednesday, hitting a record $4,887.82 as investors fled to safety amid U.S.-Europe tensions over Greenland. President Trump vowed at Davos to press his Greenland agenda, stoking fears of renewed tariffs. Traders expect two Fed rate cuts by mid-2026. The U.S. Supreme Court will hear arguments on Trump’s effort to remove Fed Governor Lisa Cook.