Key points:

• Gold back at it again
• Trump’s Greenland deal
• Goldman Sachs with the price target

You just can’t keep it lower for longer — gold is once again scaling toward records after a 30-minute selloff wiped out over $100 from prices.

💎 Gold Bounces Fast After Flash Flush

• Gold (XAUUSD) climbed back above $4,840 Thursday morning after a violent intraday drop erased over $100 in under 30 minutes yesterday.
• Dip-buyers remain aggressive even when headlines move faster than liquidity. The speed of the rebound points to positioning cleanup rather than fear, with leverage flushed and longer-term capital stepping in almost immediately.
• When a triple-digit selloff gets retraced within hours, momentum traders read it as trend validation rather than trend exhaustion. Prices were floating at record highs above $4,891 before huge news rattled global markets.

⚠️ Greenland Shock Meets Gold Reality

• Prices dropped to $4,760 per ounce after President Trump floated a Greenland framework deal and softened tariff rhetoric, triggering a risk-on reflex across equities and currencies.
• Details stayed vague, ownership questions remained open, and geopolitical uncertainty quickly returned to the foreground. That backdrop continues to favor hard assets.
• Gold traders treated the announcement as noise, not resolution, and price action reflected that view almost instantly.

🧈 Big Banks Raise the Bar

• Gold’s strength now rests on broader forces: central banks accumulating reserves, investors hedging policy risk, and real yields offering little competition.
• What’s the bigger picture? The dollar eased, stocks stabilized, and silver still held elevated levels, signaling demand is still at fever pitch.
• In other news, Goldman Sachs raised its December 2026 gold target to $5,400 per ounce, up from a prior $4,900 forecast, explicitly citing central-bank demand and policy risk.

Source: Tradingview