07.01.202601:27:14UTC+00Gold Pauses Gains

Gold prices dipped to approximately $4,480 per ounce on Wednesday, halting their two-day upward trend as investors shifted their attention from geopolitical uncertainties to upcoming economic data from the United States. Notable among the forthcoming releases is the December jobs report, set to be announced on Friday, which could offer further insights into the Federal Reserve’s monetary policy direction. Neel Kashkari, a member of the FOMC, recently suggested that a rise in unemployment may heighten the chances of interest rate cuts. Current market expectations indicate two rate reductions within the year. Despite this, geopolitical tensions continue to provide a supportive backdrop for gold. Following the US forces' capture of Venezuelan President Nicolás Maduro, President Trump remarked that the US might oversee the Venezuelan government and hinted at potential military action if the interim leadership fails to cooperate. Additionally, the White House has not dismissed the possibility of military involvement in Greenland, as tensions escalated between China and Japan following Beijing's implementation of export controls on items with possible military applications.