The post Gold steadies near record high amid sustained safe-haven demand appeared on BitcoinEthereumNews.com.

Gold (XAU/USD) extends its sideways consolidative price move through the Asian session on Tuesday and remains close to the all-time peak touched the previous day amid mixed fundamental cues. The US Dollar (USD) attracts some buyers and recovers a part of the overnight pullback from its highest level since December 9 amid reduced bets for two more interest rate cuts by the Federal Reserve (Fed). Furthermore, civil unrest in Iran seems to have subsided, reducing the likelihood of a US intervention and turning out to be another factor acting as a headwind for the commodity. However, the protracted Russia-Ukraine war keeps geopolitical risks in play. Adding to this, concerns about a possible trade war between the US and Europe, amid rising tensions over Greenland, continue to weigh on investors’ sentiment and offer support to the safe-haven Gold. Traders also seem reluctant and opt to wait for the release of the US Personal Consumption Expenditure (PCE) Price Index on Thursday. The crucial data would offer more cues about the Fed’s future policy path, which, in turn, will drive the USD and provide a fresh impetus to the non-yielding yellow metal. Daily Digest Market Movers: Gold retains bullish bias amid the global flight to safety US President Donald Trump seems to have stepped back from his earlier threats of military action against Iran on the back of Tehran’s brutal crackdown on protests. This, along with the emergence of some US Dollar buying, keeps the Gold below the all-time peak and the $4,700 mark through the Asian session on Tuesday. Traders trimmed their bets for more aggressive policy easing by the US Federal Reserve in 2026 after Trump said that he would prefer to keep National Economic Council director Kevin Hassett in his current role. This suggests that someone else will succeed the…

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Filed under: News - @ January 20, 2026 5:16 am