Gold Hovers Near Record Amid Venezuela Tensions

Gold is trading close to its all-time high, with market participants closely monitoring escalating tensions in Venezuela and anticipating upcoming US inflation data. Platinum has recently surged dramatically, nearing $2,000 per ounce before experiencing a slight pullback.

These fluctuations occur as the Federal Reserve has implemented its third consecutive rate cut, a factor typically beneficial for precious metals. However, the Fed's future guidance on monetary easing remains somewhat ambiguous, with traders assigning a moderate probability to a January rate reduction.