The global gold price remains stable at around $4,500 per ounce after three consecutive days of sharp gains. Traders are now more focused on US economic data due this week, rather than the geopolitical tensions heating up in several parts of the world. This price adjustment indicates investors remain cautious, awaiting the latest information that could impact the market.
News of the arrest of the Venezuelan leader, as well as comments from the White House about the possible use of military force in various regions, has heightened global tensions. Even tensions between China and Japan over export controls on certain goods have also caught market attention. However, none of this has been strong enough to push gold beyond its current stable level.
Traders are now awaiting a series of important data from the US, including the December jobs report due out on Friday. Early economic indicators already released have shown weaker-than-expected manufacturing activity, reinforcing expectations that the Federal Reserve will cut interest rates again. Lower interest rates typically make non-yielding gold more attractive as an investment. Besides gold, other precious metals such as silver, platinum, and palladium have also shown recent price increases. Silver prices rose by around 0.8%, while platinum and palladium also strengthened in the latest trading session. The weakening US dollar also helped the performance of these precious metals in the market. (az)
Source: Newsmaker.id
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