Global gold prices climbed to a one week high as rising political tension in Venezuela and renewed expectations of interest rate cuts by the United States Federal Reserve boosted investor demand. The precious metal gained strongly after Federal Reserve officials hinted at possible monetary easing, encouraging traders to move into safe haven assets.
Market sentiment was further shaken by developments surrounding Venezuela, where geopolitical uncertainty heightened global risk concerns. Analysts say the combination of softer rate outlooks and international instability has continued to support bullion prices. Other precious metals also recorded notable gains, reflecting broader investor caution as markets await fresh economic data for clearer policy direction.
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