13.01.202602:07:02UTC+00Gold Eases from Record High

Gold prices fell below $4,580 per ounce on Tuesday, retreating from the record high they achieved in the previous session driven by safe-haven demand amid uncertainties surrounding the Federal Reserve and escalating tensions in Iran. U.S. prosecutors have initiated a criminal investigation into Federal Reserve Chairman Jerome Powell regarding his testimony in June. Powell has described this action as part of an effort by President Trump to exert pressure on the Fed to reduce interest rates. Meanwhile, investors are evaluating Trump's recent declaration of 25% tariffs on countries engaging in trade with Iran as he ramps up pressure on the nation amidst widespread protests, further threatening military action. Market focus is now shifting to the release of U.S. inflation data later today, which may offer insights into the Federal Reserve's policy trajectory. This report is particularly significant in light of Friday's jobs data for December, which suggested a cooling in the labor market. The Federal Reserve is widely anticipated to maintain interest rates at their current levels later this month, although traders are factoring in the possibility of two rate cuts within the year.