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Gold price (XAU/USD) edges lower below $4,350 during the Asian trading hours on Thursday. The precious metal retreats from seven-week highs amid some profit-taking and a rebound in the US Dollar (USD). The potential downside for the yellow metal might be limited after the recent US jobs data reinforce market expectations of further interest rate cuts by the US Federal Reserve (Fed) and drag the USD lower. Lower interest rates could reduce the opportunity cost of holding Gold, supporting the non-yielding precious metal. Furthermore, geopolitical tensions escalate after Venezuela deploys its navy to escort oil ships amid US blockade threats. This, in turn, could boost the Gold price as it is considered a traditional safe-haven asset.  Traders brace for the release of the US Consumer Price Index (CPI) inflation data, which will be published later on Thursday. The headline CPI is expected to show a rise of 3.1% YoY in November, while the core CPI is projected to show an increase of 3.0% YoY during the same period. Also, the US weekly Initial Jobless Claims will be released later in the day.  Daily Digest Market Movers: Gold declines on profit-taking ahead of US key inflation report Venezuela’s government has ordered its navy to escort ships carrying petroleum products from port, escalating the risk of a confrontation with the US after President Donald Trump ordered a “blockade” aimed at the country’s oil industry. Fed Governor Christopher Waller on Wednesday backed further interest-rate cuts to get the central bank’s setting back to neutral, per Bloomberg.However, Waller also warned there’s no need to rush amid elevated inflation.  Atlanta Fed president Raphael Bostic said on Tuesday that he did not support cutting rates last week and does not see a case for cutting rates next year unless inflation declines. The US Bureau of Labor Statistics (BLS)…

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Filed under: News - @ December 18, 2025 2:26 am