Spot gold sank after nearing the $5,000-an-ounce mark earlier on ?Friday, as investors booked profits after prices struck another record driven by the uncertain geopolitical outlook.
Silver and platinum ?also hit all-time peaks.
Spot ?gold was down ?0.1% at $4,930.44 U.S. per ounce after scaling a record $4,967.03 earlier in the day. Prices have risen 14% since the start of this year.
U.S. gold futures for ?February ?delivery added 0.4% to $4,932.20 per ounce.
U.S. President Donald Trump said on ?Thursday that he had secured total and permanent U.S. access to Greenland in a deal with NATO. While relieved Trump had stepped back from his threats of tariffs over his demand for control of the island, EU leaders said they remained ready to act if Trump’s future behaviour made that necessary.
Meanwhile, the Federal Reserve is expected to hold rates steady at its January 27–28 meeting, but markets still expect two further rate cuts in the second half of 2026.
Spot platinum gained 1.5% to $2,667.47 ?U.S. per ounce after hitting a record $2,684.43 earlier, already up 30% year-to-date, while palladium fell 0.7% to $1,907.45 U.S.
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