Gold prices fell amid easing geopolitical tensions and weakening demand for safe-haven assets. The changes in the asset's dynamics came after US President Donald Trump abandoned new tariff threats and proposals to annex Greenland by force. A slight strengthening of the dollar also contributed.

On Wednesday, Trump unexpectedly abandoned threats to impose tariffs as leverage to seize Greenland, ruled out the use of force, and said that a path to a deal was emerging to end the dispute over the Danish territory, which threatened the deepest rift in transatlantic relations in decades. At the moment, there is a slight increase in quotes. Seller activity may resume in the range of $4850-4880.