Company Interview / the open: Gold surges to new highs 🥇 ASX to open lower

The local market is set to open modestly lower with ASX futures pointing 0.1% lower. 

A relief rally has seen global equity markets gain after President Trump ruled out seizing Greenland by force and dropped tariff threats against European countries. The easing of geopolitical tensions also boosted Wall Street's major indices, with investors also encouraged by revised US economic growth figures. The small-cap Russell 2000 rose to a record high. 

US President Trump claimed he's secured total and permanent US access to Greenland in a deal with NATO, whose head said allies would have to step up their commitment to Arctic security to ward off threats from Russia and China. 

Oil prices have slid to a one-week low as US threats towards Greenland and Iran dissipated. Meanwhile gold has surged past $4,900 an ounce for the first time. 

The US dollar is 0.5% lower on the day, meanwhile the Australian dollar is up more than 1% to US68.4cents following the stronger than expected jobs data.