FX.co ★ Gold Hovers Near Record High

Gold prices remained near their record highs of approximately $4,300 per ounce on Tuesday. Investors are anticipating the US nonfarm payrolls report due later in the day, which could provide insights into the Federal Reserve's future policy decisions. Alongside this, forthcoming retail sales figures and preliminary manufacturing data will also be pivotal, with November inflation figures to be released on Thursday expected to attract significant attention. Current market sentiment indicates a 75.6% likelihood that the Fed will maintain steady interest rates at its January meeting, though there is speculation around the potential for two rate reductions next year. On the other hand, the potential for a Russia-Ukraine peace agreement has tempered gains, as President Donald Trump remarked on Monday that resolving the conflict is “closer than ever.”