by Finimize Newsroom
Finimize
What’s going on here?
Gold prices have climbed to $2,631.60 per ounce as investors keep a keen eye on US inflation data and recent geopolitical changes in Syria.
What does this mean?
Investors are eagerly awaiting US inflation data due Wednesday, which could influence the Federal Reserve’s next move on interest rates. The CME Group’s FedWatch Tool suggests an 85.1% chance of a 25-basis-point rate cut this month. Meanwhile, the US labor market demonstrated resilience, adding 227,000 jobs in November after October’s hurricane impact, though unemployment inched up to 4.2%. Meanwhile, the situation in Syria highlights gold’s traditional role as a safe haven. As these factors unfold, gold’s appeal as a protective asset remains strong.