Post #15601

Gold Near Record Highs as Geopolitics and Rate-Cut Bets Collide Gold is holding firm near recent highs, supported by a mix of safe-haven demand and a growing rate-cut narrative. Geopolitical tensions tied to the U.S. capture of Venezuela’s president have driven defensive flows, while weaker U.S. manufacturing data and rising concern around the labor market have reinforced expectations for Fed easing this year. Markets are now focused on this week’s U.S. jobs data as the next major driver. Tomorrow: ADP Employment Change, JOLTS Thursday: Jobless Claims Friday: US Unemployment Rate, NFP A softer labor backdrop would strengthen the case for rate cuts and likely push gold higher, while stronger employment data could delay easing, keeping rates elevated and applying near-term pressure on gold as geopolitical risk fades. - Alan