Trump Greenland Deal with NATO Triggers Gold Price Reversal After Record High
President Trump withdrew Greenland tariff threats and announced a NATO deal outline. This caused a market reversal after gold hit a record high of $4,887.82.
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USPresident Donald Trump donald trumpannounced on Wednesday that he has withdrawn previous threats to impose tariffs on several nations regarding their stance on Greenland. The President stated that he has reached the outlines of a deal with NATO concerning the future of the island. This sudden policy shift sparked an immediate reaction across global financial markets, leading to a rebound in equity markets and a notable reversal in the recent rally of precious metals.
USPresident Donald Trump donald trumpannounced on Wednesday that he has withdrawn previous threats to impose tariffs on several nations regarding their stance on Greenland. The President stated that he has reached the outlines of a deal with NATO concerning the future of the island. This sudden policy shift sparked an immediate reaction across global financial markets, leading to a rebound in equity markets and a notable reversal in the recent rally of precious metals.Earlier in the session on January 21, 2026, Gold Spot scaled a new all-time high of $4,887.82 per ounce before trimming its gains following the news from the White House. By 3:10 p.m. ET, Gold Spotwas up 0.3% at $4,778.51 per ounce. Meanwhile, Gold Futures for February delivery settled 1.5% higher at $4,837.50 per ounce. The metal has seen significant growth in recent years, with Gold Spotsoaring 64% in 2025 and rising 11% so far in 2026 amid persistent geopolitical uncertainty.
