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Gold boosted by Greenland tensions and tariff threats
21-Jan-2026, 03:20
Gold extended its strong rally toward $4,900 per ounce in early electronic trade, scaling a fresh record as escalating tensions over Greenland and President Trump's tariff threats against eight European nations intensified safe-haven demand. Further support came from a softer US dollar, with the dollar index slipping near 98.5 for a third straight session amid waning confidence in US assets. On the domestic front, MCX February gold futures surged nearly 5% to trade around ₹1,57,650 per 10 grams, while investors now await the delayed US PCE inflation data later this week for clearer signals on the Federal Reserve's rate outlook.
Gold extended its strong rally toward $4,900 per ounce in early electronic trade, scaling a fresh record as escalating tensions over Greenland and President Trump's tariff threats against eight European nations intensified safe-haven demand. Further support came from a softer US dollar, with the dollar index slipping near 98.5 for a third straight session amid waning confidence in US assets. On the domestic front, MCX February gold futures surged nearly 5% to trade around ₹1,57,650 per 10 grams, while investors now await the delayed US PCE inflation data later this week for clearer signals on the Federal Reserve's rate outlook.
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