Trump Reverses Greenland Tariff Threats, Easing Market Tensions
President Trump reversed tariff threats and Greenland annexation plans, easing tensions. Precious metals fell as the US dollar and equities rose.
Insights:
On January 22, 2026, President Donald Trump donald trumpreversed his previous threats to impose tariffs and annex Greenland 
GLby force, signaling that a potential deal was in sight to resolve the dispute over the Danish territory 
DK. This unexpected policy shift immediately impacted global markets, particularly precious metals and currency exchanges.
GLby force, signaling that a potential deal was in sight to resolve the dispute over the Danish territory DK. This unexpected policy shift immediately impacted global markets, particularly precious metals and currency exchanges.Spot gold fell nearly 1% to $4,793.63 per ounce, while U.S. gold futures for February delivery decreased by the same percentage to $4,790.10. This decline followed a record peak of $4,887.82 in the previous session. Spot platinum also experienced a significant drop of 1.8%, settling at $2,438.43 per ounce after reaching a high of $2,511.80. Meanwhile, spot silver remained steady at $92.27 an ounce, having previously hit a record high of $95.87 on Tuesday. Palladium edged up slightly by 0.1% to $1,840.40.
