SINGAPORE, Jan 22 (Reuters): Gold prices ticked down on Thursday, pausing a three-session rally to record highs, as easing tensions over Greenland boosted risky assets, with bullion further pressured by fading expectations of US interest rate cuts in the near term.
Spot gold eased 0.2 per cent to $4,825.22 per ounce, as of 1201 GMT, after falling nearly 1 per cent earlier in the session.
US gold futures for February delivery lost 0.2 per cent to $4,827.80 per ounce.
Bullion is already up more than 12 per cent this year, having hit a record of $4,887.82 per ounce on Wednesday, on a bullish momentum driven by persisting geopolitical tensions and concerns over Fed independence.
"The return of risk appetite is weighing on demand for the safe-haven metal, while a modest recovery in the US dollar is adding further headwinds for gold," said ActivTrades analyst Ricardo Evangelista.
US President Donald Trump abruptly stepped back on Wednesday from threats to impose tariffs as leverage to seize Greenland, ruled ?out the use of force and suggested a deal was in sight to end a dispute over the Danish territory.
Meanwhile, US Supreme Court justices signaled skepticism on Wednesday toward Trump's unprecedented bid to fire Federal Reserve Governor Lisa Cook in a case with the central bank's independence at stake.
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