[MARKET UPDATE] Spot XAU extends to new ATHs of USD 4680/oz following the risk-off theme as markets digest the US tariffs over Greenland and possible retaliation

Spot XAU extends to new ATHs of USD 4680/oz following the risk-off theme as markets digest the US tariffs over Greenland and possible retaliation.

The rise in spot XAU to new all-time highs reflects heightened uncertainty in the market, stemming from tensions over U.S. tariffs on Greenland and expectations of retaliation. This risk-off sentiment is likely driving demand for gold as a safe-haven asset, suggesting that geopolitical factors may increasingly weigh on market confidence and have implications for broader asset correlations.