How high can gold go after breaking US$4,800? Some analysts say US$7,000

[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.