Gold prices rose amid increased safe-haven demand
Istanbul, Jan. 6 (Hibya) – Gold prices climbed for a third consecutive day on Tuesday, rising above $4,450 per ounce as demand for safe-haven assets increased due to political turmoil in Venezuela.
Gold jumped 2.7% on Monday following the U.S. military operation in Venezuela over the weekend, which led to the removal of President Nicolas Maduro.
U.S. President Donald Trump said on Sunday that Washington would temporarily “administer” Venezuela and warned of a second strike if the interim government fails to comply with U.S. demands.
Investors are also closely watching upcoming U.S. labor market data, particularly the December employment report due on Friday, to gain further clues about the Federal Reserve’s policy outlook.
Meanwhile, Minneapolis Fed President Neel Kashkari said on Monday that interest rates could be near neutral levels, while highlighting concerns over persistent inflation and a potential rise in unemployment.
Gold prices surged more than 60% in 2025 to reach a record high of $4,549.71 per ounce, but subsequently pulled back due to heavy profit-taking. Since then, prices have rebounded and moved closer to peak levels.
Usa News Agency
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