(22 Jan 2026, 14:58)

Gold slips below $4,800 as profit-taking sets in

Gold prices pulled back in Asian trade after hitting fresh record highs, slipping below $4,800 per ounce as investors booked profits and the US dollar held firm near 98.6. The retreat came as geopolitical and trade tensions eased after President Donald Trump softened his stance on Greenland and rolled back tariff threats following a framework understanding with NATO, although details remain unclear and Denmark rejected any talks on sovereignty. Market attention is now on upcoming US weekly jobless claims and delayed PCE inflation data for fresh cues on the economic outlook. The Federal Reserve is widely expected to keep interest rates unchanged next week, while markets continue to price in around 50 basis points of rate cuts later this year. In India, MCX February gold futures fell nearly 1% to Rs 151,640 per 10 grams, retreating from the lifetime high of Rs 158,475 recorded in the previous session.

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Gold slips below $4,800 as profit-taking sets in