The White House’s Greenland threat dropped the US dollar and pushed gold above $4700.

On Tuesday, the White House issued a threat to Europe regarding the future of Greenland, triggering another "sell off to the United States" trade. The US dollar index ultimately closed down 0.49% at 98.56; The benchmark 10-year Treasury yield ultimately closed at 4.3000%, while the 2-year Treasury yield sensitive to the Federal Reserve policy rate closed at 3.6050%. Geopolitical tensions continue to drive up safe haven demand for gold, with spot gold prices breaking through a historic high of $4700 per ounce on Tuesday (January 20) and silver breaking through $95, putting pressure on the US dollar, US stocks, and US bonds. This crisis is pushing risk aversion to the extreme, and gold has once again become a "hard currency" in troubled times. On Wednesday (January 21), in the morning session of the Asian market, spot gold continued to rise, and as of 07:48, it once again broke the historical record high, reaching a high of $4780.98 per ounce. Due to the temporary shutdown of oil fields in Kazakhstan and the possibility of stronger global economic growth driving fuel demand, WTI crude oil ultimately closed up 0.17% at $59.5 per barrel; Brent crude oil opened low and rose, ultimately closing down 0.13% at $63.55 per barrel.