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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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Benicia Tan

Published Thu, Jan 22, 2026 · 08:48 AM
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    • Industry observers note that gold’s record rally from 2025 has continued to piggyback on a slew of structural factors, including investor risk-hedging. 
    • Industry observers note that gold’s record rally from 2025 has continued to piggyback on a slew of structural factors, including investor risk-hedging.  PHOTO: YEN MENG JIIN, BT

    [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. 

    GoldDonald TrumpGreenlandTariffsprecious metalsCommodities

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