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Gold price nears $5,000 as geopolitical worries linger - YAHOO FINANCE
Gold (GC=F)
Gold prices rose on Friday morning, advancing closer to the $5,000 mark, as geopolitical concerns remained in focus for investors.
Gold futures (GC=F) were up 0.6% to $4,940.20 per ounce at the time of writing, while spot gold climbed 0.5% at $4,911.19.
US president Donald Trump's U-turn on tariff threats over opposition to his proposed takeover of Greenland and talk of a "framework of a future deal" over the semi-autonomous Danish territory, has fuelled a relief rally in stocks.
At the same time, Deutsche Bank (DBK.DE) analysts said in a note on Friday that "there’s still a lot of focus on the precise details of what the framework over Greenland will include, and there was lingering caution [on Thursday] that the geopolitical risk hasn’t entirely gone away".
Attention will turn to talks between officials from Ukraine, Russia and the US, due to be held in Abu Dhabi on Friday. The meeting will mark the first trilateral talks since Russia invaded Ukraine in 2022.
