Gold fell more than 1% to around $4,780 per ounce on Thursday, easing from a fresh record hit in the previous session after President Donald Trump retreated from a proposed tariff threat against Europe over Greenland. He said a deal was nearing to resolve the dispute over the Arctic island and ruled out the use of force, easing concerns over potential US military action and reducing geopolitical risk. However, uncertainty lingered as European lawmakers halted approval of the EU–US trade agreement reached in July. At the same time, a sharp selloff in Japanese government bonds, driven by election-related tax-cut pledges, raised fiscal concerns and helped sustain some haven demand. Meanwhile, investors are now awaiting the delayed US PCE inflation report due later today, which may provide additional clues on the Federal Reserve’s interest rate outlook.