Gold keeps breaking records, but watch out for these risks that could trigger a selloff

Gold has reached new all-time highs amid Trump's escalation regarding Greenland, supported by geopolitical tensions and a dovish reaction from the Fed. However, downside risks loom, including potential de-escalation from Trump, a U.S. Supreme Court ruling on tariffs, and hot U.S. economic data. On the daily chart, gold has jumped to new all-time highs, with buyers having a favorable risk-to-reward setup around the trendline. Bullish momentum is also reflected in the 4-hour and 1-hour charts where upward trendlines act as support. Upcoming events, such as U.S. ADP jobs data and Trump's speech, are critical to watch as they may influence the market dynamics significantly.