Gold prices ticked down on ​Thursday, pausing a three-session rally to record highs, as easing tensions over Greenland boosted risky assets, with bullion further pressured ⁠by fading expectations of U.S. interest rate cuts in the near term.

Spot gold eased 0.3% to $4,824.18 per ounce, ⁠as of 1017 ‌GMT, after falling nearly 1% earlier in the session.

U.S. gold futures for February delivery lost 0.2% to $4,826 per ounce.

Bullion is already up more than 12% this ⁠year, having hit a record of $4,887.82 per ounce on Wednesday, on a bullish momentum driven by persisting geopolitical tensions and concerns over Fed independence.

"The return of risk appetite is weighing on demand for the safe-haven metal, while a modest recovery in the U.S. dollar is adding further headwinds for gold," ⁠said ActivTrades analyst Ricardo Evangelista.

U.S. President ​Donald Trump abruptly stepped back on Wednesday from threats to impose tariffs as leverage to seize Greenland, ruled out the use of ‍force and suggested a deal was in sight to end a dispute over the Danish territory.

Meanwhile, U.S. Supreme Court justices ​signaled skepticism on Wednesday toward Trump's unprecedented bid to fire Federal Reserve Governor Lisa Cook in a case with the central bank's independence at stake.

Trump on Wednesday indicated he was close to choosing the new chair of the Fed, adding he liked the idea of keeping White House economic adviser Kevin Hassett in his current post.

The Fed will hold its key interest rate through this quarter and possibly until Chair Jerome Powell's tenure ends in May, according to a Reuters poll.

Investors are now looking out for weekly jobless claims and November's Personal Consumption Expenditures (PCE) data, the Fed's preferred inflation gauge, for further clues on monetary policy.

"The ⁠overall trend (for gold) remains upward – even price levels above $5,000, up to ‌the range of $5,200 per troy ounce, appear possible even in the short-term," said Henrik Marx, global head of trading at Heraeus Precious Metals.

Elsewhere, spot silver was up 0.5% at $93.71 an ounce, after hitting a ‌record high ⁠of $95.87 on Tuesday.

Spot platinum edged up 0.1% to $2,484.74 per ounce after touching a record peak of $2,511.80 on Wednesday, ⁠while palladium gained 1.1% to $1,860.54.