On January 19, COMEX gold opened higher and traded within a high range, closing at $4676.7 per ounce, marking a gain of 1.77%. Domestically, the SHFE gold night session continued its upward surge, closing at 1053.46 yuan per gram, up 1.35%.
According to CCTV News, on January 17 local time, US President Trump stated that a 10% tariff would be imposed on eight European countries opposing his acquisition of Greenland. Starting June 1, 2026, the tariff rate is set to increase to 25%. European officials swiftly signaled countermeasures, with the EU reportedly discussing the possibility of imposing tariffs on approximately 93 billion euros worth of US goods; French President Macron was even revealed to be considering activating the EU's "anti-coercion instrument." This series of statements has prompted markets to reassess the risk of US-Europe trade friction escalating into a prolonged conflict. Market risk-off sentiment continues to intensify, with geopolitical factors expected to remain a short-term focus, suggesting that gold's near-term appeal may persist.
Furthermore, the foreign exchange market is exhibiting "de-dollarization" characteristics. Overnight, the US Dollar Index fell 0.3%, while the Euro and Pound Sterling both strengthened. The yield on the 10-year US Treasury note touched a high of 4.26%, and US stock futures declined despite US markets being closed. Within the context of weak dollar trading, this also supports gold prices from a currency valuation perspective. The near-term outlook remains biased towards strength, with close attention on the trajectory of geopolitical conflicts.
Source: Wind, Everbright Futures Research Institute Author: Shi Yueming Practicing Qualification: F03097365 Trading Advisory Qualification: Z0017563 Disclaimer: The information in this report is derived from publicly available sources. Our company makes no guarantee regarding the accuracy, reliability, or completeness of this information, nor does it guarantee that the included information and suggestions will remain unchanged. We have strived for objectivity and impartiality in the report's content. However, the views, conclusions, and recommendations are for reference only and do not constitute recommendations or operational basis for any specific products, businesses, or related instruments. Investors making any investment decisions based on this information assume full responsibility for profits and losses, which are unrelated to our company and the author.
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