Gold Near Record, World Holds Breath
Gold prices remain high and are moving steadily near their record high. Bullion is trading around USD 4,340 per ounce, only about USD 40 below the all-time high reached last October. This increase comes after gold surged 0.8% in the previous session.
Market participants are now focused on the release of US inflation data on Thursday. This data is crucial because it could provide clues as to whether the US Federal Reserve will continue cutting interest rates. If inflation slows, the chances of an interest rate cut could increase, which typically supports gold prices.
In addition to economic factors, geopolitical tensions are also driving gold prices. US President Donald Trump has ordered a blockade of sanctioned oil tankers in Venezuela. The increased US military presence in the region is adding pressure on President Nicolás Maduro's government, despite Mexico and Brazil offering to act as mediators.
In morning trading in Singapore, gold was recorded at USD 4,338.20 per ounce. Silver prices held steady at USD 66.24 per ounce after previously hitting a record high. Platinum also held firm at its highest level since 2008, while palladium weakened. Meanwhile, the US dollar index edged up 0.2%, indicating the market remains cautious. (az)
Source: Newsmaker.id
