How high can gold go after breaking US$4,800? Some analysts say US$7,000
Market watchers caution that heavy speculative bets could trigger price corrections if sentiment falters
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[SINGAPORE] Gold steadied on Thursday (Jan 22), paring early losses after US President Donald Trump dialled back threats to impose tariffs on European nations.
Trump said a “framework of a future deal” over Greenland had been made during talks with Nato secretary-general Mark Rutte, though uncertainty remains over the deal’s specifics.
Gold pierced the US$4,800 mark on Wednesday, hitting a new high of US$4888.21. Consecutive gains were fuelled by concerns over the US’ bid to annex the Danish territory; the precious metal is up about 5 per cent this week.
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