Gold price (XAU/USD) rallies on Tuesday for the fourth straight day, shy of reclaiming the $4,500 figure even though US Treasury yields rise along with the Greenback, which is also gaining 0.20%. At the time of writing, XAU/USD trades at $4,487, up nearly 1%.
Bullion extends gains as Venezuela tensions fuel haven demand despite firmer yields and US Dollar strength.
Precious metals traders continued to push Gold and Silver toward record high levels amid geopolitical uncertainty. The capture of the Venezuelan President Nicolas Maduro and US President Donald Trump's verbal threats of extending those kinds of operations to other Latin American countries keep investors anxious, which has turned to Bullion's haven appeal.
Recently revealed economic data in the United States prompted investors to buy the yellow metal following the release of nearly unchanged Purchasing Managers Indices (PMI) computed by S&P Global.
US business activity remains solid, yet it justifies the need for lower interest rates, according to Fed Governor Stephen Miran, who recently crossed the wires. Contrary to his opinion, Richmond Fed President Thomas Barkin stated that the Fed funds rate is within neutral levels, which neither stimulates nor restrains economic activity.
Despite this, traders have priced in nearly 56 basis points of rate cuts by the Federal Reserve towards the end of 2026, according to Prime Market Terminal Data.
The US economic docket will feature US ADP Employment Change figures for December, along with ISM Services PMI for the same period, and JOLTS Job Openings for November.(Cay)
Source: Fxstreet
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