Gold declines as the dollar rises and Trump withdraws his threats to annex Greenland

Prices of gold and other precious metals fell today, Thursday, with a decline in geopolitical tensions and a decline in demand for safe havens, after US President Donald Trump backed down from his threats to impose new tariffs and his proposals to include Greenland by force, while the value of The dollaralso put pressure on prices.

And The price of gold in spot transactions rose by 0.8% to $4,796.75 per ounce by 05:24 GMT, while US gold futures (February delivery) fell by 0.8% to reach $4,799.90 per ounce.

In other precious metals, the price of silver fell by 0.1% to $93.19 per ounce, after hitting a record level. It hit $95.87 on Tuesday. Platinum lost about 2% to $2,433.50, while palladium fell by 0.6% to $1,829.29.

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