roboforex Market Fundamental Analysis by RoboForex

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Rising uncertainty in global markets supports XAUUSD

XAUUSD prices continue to rise amid escalating geopolitical tensions around Greenland, currently trading at 4,710 USD. Discover more in our analysis for 20 January 2026.

XAUUSD forecast: key trading points

• Demand for safe-haven assets strengthened amid the escalation of the situation around Greenland
• Investors fear the start of a large-scale trade confrontation between the US and Europe
• Geopolitical risks continue to rise, worsening expectations for global economic growth

Fundamental analysis

XAUUSD quotes are rising for the second consecutive trading session. Buyers confidently overcame the key resistance level at 4,635 USD, which previously restrained the bullish momentum. Gold receives sustained support due to growing demand for safe-haven assets amid escalating tensions around Greenland.

The market reacts to increased pressure from US President Donald Trump, who once again asserts claims over Greenland. Investors fear that such rhetoric may trigger a large-scale trade confrontation between the US and Europe. Analysts emphasise that the current trade tensions differ in nature from last year’s tariff conflicts; however, the level of uncertainty for the global economy remains elevated.

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Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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The RoboForex Team