Gold tops $4,800 record then cools as Trump softens Greenland tariff threat
Spot gold hit a record $4,887.82 an ounce Wednesday before retreating as President Trump announced a framework deal with NATO on Greenland, easing safe-haven demand. By 3:10 p.m. ET, spot gold was at $4,778.51, while U.S. gold futures closed up 1.5% at $4,837.50. Traders are watching U.S. inflation data due Jan. 22 and the Federal Reserve meeting Jan. 27-28.