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Today’s markets analysis on behalf of Konstantinos Chrysikos Head of Customer Relationship Management at Kudotrade
Gold rallied on Monday, as investors reacted to the sudden escalation of geopolitical risk in Latin America, prompting a renewed rush into safe-haven assets. The unexpected developments fueled concerns about an increase in tensions in the region. Investors could remain sensitive to the next steps in the US-Venezuela relationship.
A more peaceful collaboration between the two countries could help alleviate geopolitical concerns, which could weigh on gold. However, renewed tensions or additional actions in the region could drive demand for gold and other safe-haven assets.
More broadly, geopolitical risks remain elevated globally. Tensions in Eastern Europe have intensified again, undermining hopes for near-term de-escalation, while the Middle East continues to face a fragile environment.
On the macro front, investors are also positioning ahead of a heavy US data calendar, including ISM PMIs, and employment figures, alongside speeches from several Federal Reserve officials. Expectations that Trump may soon nominate a more dovish Fed chair have further supported gold, as concerns over central bank independence and a potentially looser monetary stance could bolster demand for bullion.
Zaid Barem / ymm
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