Gold Holds Near Record Highs Ahead of CPI

Gold slipped to around $4,330 per ounce on Thursday, but remained close to the record highs set in October, supported by expectations of further US rate cuts and persistent geopolitical risks.

Fed Governor Christopher Waller backed additional rate reductions while emphasizing a cautious, data-dependent approach. His remarks followed fresh US labor data showing further cooling, with the unemployment rate at a four-year high and November job gains failing to fully offset October’s slowdown.

Markets are now focused on the delayed CPI report due later today for clearer direction on Fed policy.

Geopolitical tensions continue to underpin safe-haven demand. The US moved to halt all sanctioned Venezuelan oil shipments after last week’s tanker seizure and military deployment, while in Ukraine, President Vladimir Putin reiterated firm territorial demands even as Washington steps up diplomatic efforts.