America News Agency

The yellow metal gained about 65% last year amid globally imposed U.S. tariffs, expectations of lower U.S. borrowing costs, persistent geopolitical uncertainty, continued central bank purchases, and renewed inflows into gold-backed exchange-traded funds.

Minutes from the U.S. Federal Open Market Committee’s (FOMC) December meeting, released earlier this week, showed policymakers are increasingly open to easing monetary policy if inflation continues to cool. However, divisions remain over the timing and scale of potential rate cuts.

On the geopolitical front, the United States has recently stepped up sanctions on Venezuela’s oil trade. At the same time, clashes that reignited between Russia and Ukraine during the New Year period targeted Black Sea ports and key energy infrastructure.