(20 Jan 2026, 14:59)

Gold hits another fresh record on safe-haven rush

Gold prices staged a powerful rally in early European trade on Tuesday, with futures vaulting more than 3% to trade near 4,750 dollars per ounce, carving out a new all-time high as investors sought refuge amid intensifying US–EU trade frictions. Sentiment was unsettled by President Donald Trump’s renewed bid to acquire Greenland and the threat of additional tariffs on multiple European nations, prompting markets to brace for potential retaliatory measures. The strength in international markets was mirrored domestically, with MCX February gold futures racing to a fresh lifetime high of 152,500 rupees per 10 grams, registering gains of nearly 2.5%. A softer US dollar added further momentum, as the dollar index slipped below 99 on fading confidence in US assets, while attention now turns to the delayed US PCE inflation data later this week for signals on the Federal Reserve’s future policy trajectory.

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Gold hits another fresh record on safe-haven rush