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GREENLAND AFFAIR OF TRUMP SHAKES UP THE MARKETS: GOLD SURGES PAST $4,700, BITCOIN LOSES $91K
Markets reacted negatively to President Trump's statements about Greenland on Tuesday morning, when the American leader confirmed his intention to annex the world's largest island and make it part of U.S. territory.
Arriving in Davos, where he will participate in the annual meeting of the World Economic Forum (WEF), Trump reiterated that the U.S. “must acquire” Greenland and ignored possible objections from European leaders against this action.
On Truth Social, Trump also revealed that he had a “very good” phone call with NATO's Mark Rutte regarding Greenland and that various interested parties will meet in Davos.
Gold was in the news as traders shifted to the traditional safe-haven asset. COMEX gold futures for February surpassed the $4,700 mark, reaching $4,715.
The precious metal started 2026 with outstanding performance, rising due to uncertainty related to the resumption of trade wars and the ongoing reconfiguration of the international chessboard, which Canadian Prime Minister Mark Carney called “a new world order.”
Bitcoin, on the other hand, experienced a decline, behaving as a risky asset amid risk-reduction operations by financial operators. The cryptocurrency fell to $90,723 on Bitstamp, losing the $91K level.