PRECIOUS-Gold steadies after hitting record peak near $5,000

By Pablo Sinha

Jan 23 (Reuters) - Gold prices steadied as investors booked profits after prices struck another record high near $5,000 an ounce on the uncertain geopolitical outlook.

Silver and platinum also hit record peaks.

Spot gold XAU= was steady at $4,935.39 an ounce at 1228 GMT, having touched a record $4,967.03 earlier in the day.

U.S. gold futures GCcv1 for February delivery added 0.5% to $4,935.60 an ounce.

Prices have risen by 14% since the beginning of the year, partly on concerns around U.S. President Donald Trump's threat to impose tariffs on European allies over Greenland.

"The emergence of a deal framework and removal of Trump's tariff threats should, in theory, have seen those gold hedges unwound - instead, gold pushed to new highs," said Chris Weston, head of research at Pepperstone.

"Perhaps the market has seen enough, and that gold increasingly looks like a hedge against Trump as the U.S. president and the absolute unpredictability that comes with it."

Trump said on Thursday that he had secured total and permanent U.S. access to Greenland in a deal with NATO.

CENTRAL BANK BUYING ALSO DRIVES RALLY

Buying by central banks and a broader shift away from the dollar have helped to push gold higher and higher as investors seek shelter from global policy risks and volatility.

Low interest rates and economic uncertainty traditionally favour non-yielding assets such as gold.

Gold premiums in India jumped this week to their highest in more than a decade, buoyed by investor buying on expectations of a duty increase in the coming budget, while Chinese premiums dipped. GOL/AS

Spot silver XAG= surged by 2.8% to $98.90 an ounce after hitting a record high of $99.37, taking gains so far this year to 38%.

"Traditionally, silver hasn't been a haven asset class in the past, but maybe its role is migrating," said WisdomTree commodities strategist Nitesh Shah, adding that prices could ease if the surge leads industrial demand to shrink.

Spot platinum XPT= gained 3% to $2,707.85 an ounce after hitting a record $2,718.40. The metal is up 31% since the start of the year.

Palladium XPD=, meanwhile, jumped by 2.6% to $1,969.70.