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06.01.202601:59:44UTC+00Gold Hovers Near 1-Week High

Gold prices remained steady at approximately $4,440 per ounce on Tuesday. This comes after reaching a one-week high in the previous session, fueled by an increased demand for safe-haven assets amid the political unrest in Venezuela. The price of bullion spiked by 2.7% on Monday in the wake of a U.S. military operation in Venezuela over the weekend, which resulted in the removal of President Nicolas Maduro. On Sunday, President Donald Trump announced that the U.S. would temporarily oversee Venezuela and issued a warning of another potential strike if the interim government did not meet U.S. requirements. Investors are now turning their attention to the upcoming U.S. labor market data, with the December jobs report set to be released on Friday. This data is pivotal for gauging the Federal Reserve's future policy directions. Concurrently, Minneapolis Fed President Neel Kashkari expressed concerns on Monday regarding sustained inflation and the possibility of rising unemployment, while also suggesting that interest rates may be nearing a neutral level.

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