Gold Prices Reach Record Levels with Greenland Tension

Historical Peak in Gold Prices: Surpassed 4,800 Dollars

Gold prices reached a new record exceeding 4,800 dollars as tensions between the U.S. and NATO increased over Greenland, prompting investors to seek safe havens.

Spot Gold Reached a Peak of 4,887.82 Dollars

Spot gold rose to as high as 4,887.82 dollars before retreating to 4,849 dollars at 10:45 AM Turkey time. U.S. gold futures traded at 4,844 dollars, showing an increase of 1.65%. Meanwhile, spot silver also saw a record level at 95.87 dollars before falling back to around 94.60 dollars.

Geopolitical Developments Affecting Gold Prices

Kyle Rodda, senior market analyst at Capital.com, stated, “Trump's threats regarding tariffs on European countries, along with increased efforts to manage Greenland, have weakened confidence in the U.S. The rise in gold reflects global geopolitical fears.”

Investor Behaviors are Changing

ABC Refinery analyst Nicholas Frappel remarked, “Gold surpassing 4,800 dollars indicates that investors do not want to sell their assets up to 5,000 dollars. Increasing debt rates, a weakening dollar, and global uncertainties are among the factors supporting gold prices.”

The fluctuations in the gold market are attracting investors' attention, and the effects of geopolitical developments will continue to be monitored in the coming days.