Gold remains firmly bid near record highs as geopolitical risks flare once again, this time driven by President Trump’s latest tariff threats aimed squarely at Europe. With markets already on edge, the timing — just days ahead of the World Economic Forum in Davos — has added another layer of uncertainty to an already fragile global backdrop. Rather than triggering panic, the renewed bout of headline risk has reinforced gold’s appeal as a defensive asset. Futures positioning, options markets and short-term technicals all suggest that while volatility risks remain elevated, investors are still treating pullbacks as ... (full story)