20.01.2026 08:20
As demand for safe havens in global markets strengthens again, U.S. President Donald Trump's statements about purchasing Greenland disrupted risk perception. The ounce of gold rose to 6,531 lira, reaching an all-time high, while the gram of gold also increased to 6,531 lira, setting a new historical record.
As the search for safe havens in global markets accelerates again, U.S. President Donald Trump's statements about purchasing Greenland negatively affected risk perception. Following these developments, there were sharp increases in gold and silver prices. Spot gold reached a record high of $4,694 per ounce, rising by 0.5%. U.S. futures contracts for gold also increased by 1.9%, reaching $4,680.30.
GRAM GOLD AT ALL-TIME HIGH
Following the rise in gold prices, gram gold also started the new day with an increase. Gram gold gained 0.5% in value, rising to 6,531 lira, marking an all-time high.
SILVER TESTED RECORD LEVEL
In silver prices, profit-taking was effective after the intraday record. Spot silver fell by 1.4% to $93.33, while it tested the record level at $94.72 during the day.
GREENLAND TENSION BEING CLOSELY MONITORED
The tension between Trump and the European Union over Greenland is being closely monitored in the markets. KCM Trade Chief Market Analyst Tim Waterer stated that gold has digested its recent strong rise and that the markets want to see the course of the Trump-EU tension. Waterer expressed that if Trump maintains his tough stance on tariffs, gold has the potential to rise above $4,700 in the short term, and a possible compromise with EU leaders in Davos could reduce the risk premium.
FED EXPECTED TO KEEP INTEREST RATES UNCHANGED
As tariff threats triggered sales in U.S. stock and bond markets, the dollar fell to its lowest level in the past week. The weakening of the dollar provided additional support to gold prices. Gold prices were also bolstered by concerns about the independence of the U.S. Federal Reserve. It is reported that the U.S. Supreme Court is expected to address a case regarding Trump's attempt to dismiss Fed Board Member Lisa Cook this week. In the markets, the view that the Fed will keep interest rates unchanged at its meeting on January 27-28 is gaining weight. Gold, which does not yield interest, generally performs better in low-interest environments.
Other precious metals experienced declines. Spot platinum fell by 1.8% to $2,331.20, while palladium decreased by 2% to $1,804.15.