According to Bloomberg January 22 2026, “President Donald Trump said he would refrain from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland, citing a “framework of a future deal” he said was reached regarding the island“. Although the U.S. President Trump’s decision to de-escalate tariff threats toward Europe eased immediate trade-war fears and slightly reduced short-term safe-haven flows, broader risks persist. The IMF has warned that global growth remains vulnerable, particularly if expected productivity gains from AI investment fail to materialize, while geopolitical tensions and inequality debates continue to weigh on market sentiment.
Discussions at the World Economic Forum in Davos highlighted growing concerns over rising sovereign debt, fiscal sustainability, and long-term confidence in the U.S. dollar, reinforcing gold’s role as a strategic hedge. Despite all of these, gold prices remained supported by a complex macroeconomic backdrop shaped by global uncertainty rather than a single shock.
