In the early trading session, the price of gold in the Asian market fell due to the easing of tensions between the United States and Europe over the issue of Greenland.

The price of gold fell as tensions eased between the US and Europe over the issue of Greenland, which could weaken the safe-haven appeal of gold. Spot gold fell by 0.7% to $4,797.60 per ounce. US President Trump stated on Truth Social that "we have formed a framework for a future agreement on Greenland" and that he will no longer impose new tariffs on some European countries, which he had previously targeted for opposing the current government's control of Greenland. Fawad Razaqzada, global macro analyst at FOREX.com, said the market "breathed a sigh of relief". However, the analyst added, "caution remains the prevailing theme. After all, Trump will continue to weaponize his tariff policy to achieve the same results."