Gold Extends Gains Amid Safe-Haven Demand Driven by Venezuela Turmoil and US Jobs Data Anticipation

New York | EcoPulse24

Gold prices continued to build on their gains during Tuesday's session, climbing above $4,450 per ounce and registering a third consecutive day of increases. The rally is driven by growing demand for safe-haven assets amid intensifying political turmoil linked to Venezuela.

This performance follows a strong 2.7% surge on Monday after a US military operation led to the ousting of Venezuelan President Nicolás Maduro. US President Donald Trump announced that Washington would assume "temporary administration" of Venezuela, warning of further action should the transitional government fail to meet US demands. This has heightened geopolitical risk premiums across markets.

Simultaneously, investors are closely monitoring upcoming US labor market data, especially the December jobs report set for release on Friday, seeking clearer signals on the Federal Reserve's policy trajectory. In this context, Minneapolis Fed President Neel Kashkari expressed concerns over persistent inflationary pressures and the potential for rising unemployment, emphasizing that interest rates may be near neutral levels.

EcoPulse24 Analysis
Gold's resilience at elevated levels reflects a mix of ongoing political risks and cautious monetary expectations. Whether this momentum continues will depend on whether the jobs data supports a monetary easing scenario or prompts a reassessment that could curb the rush into safe-haven assets in the coming weeks.