Precious metal prices rose on Thursday, supported by easing geopolitical tensions and reduced demand for safe havens.
The retreat of former U.S. President Donald Trump from his threats to impose new tariffs, along with his proposals regarding the annexation of Greenland, helped support prices.
One of the most notable developments was that spot gold prices surpassed $4,900 per ounce for the first time in history.
Developments in financial markets reflect a decline in U.S. 10-year Treasury yields from their record levels, while Wall Street indices rose on news of Trump backing away from tariffs.
A stronger dollar typically increases the cost of dollar-denominated metals for buyers outside the United States, limiting their attractiveness.
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