Gold prices advanced on Tuesday, extending a three-session rally as investors moved toward safe-haven assets amid escalating geopolitical uncertainty and growing caution ahead of key U.S. economic data.
Spot gold rose to $4,464.41 an ounce, up 0.41% on the day. The metal has gained 6.55% over the past month and is nearly 70% higher than a year ago, according to contracts for difference tracking the benchmark market—underscoring the strength of the current rally.
The latest gains followed a sharp surge on Monday, when bullion jumped 2.7% after the United States carried out a military operation in Venezuela that led to the capture of President Nicolas Maduro. U.S. President Donald Trump said Washington would temporarily “run” the country and warned of a second strike if an interim government fails to comply with U.S. demands.
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Those developments injected fresh uncertainty into global markets, prompting investors to increase exposure to gold, which is traditionally viewed as a hedge against political instability and financial stress.
Beyond geopolitics, market participants are also positioning cautiously ahead of key U.S. labor market data. Attention is focused on the December jobs report due on Friday, which could influence expectations around the Federal Reserve’s next policy moves.
On Monday, Minneapolis Federal Reserve President Neel Kashkari said inflation remains elevated and cautioned that unemployment could rise, while noting that U.S. interest rates may be nearing a neutral level. His comments reinforced uncertainty around the future path of monetary policy.
Analysts said the combination of heightened geopolitical risk and ambiguity over U.S. interest rates continues to underpin gold prices. While markets remain sensitive to incoming economic data, safe-haven demand has so far outweighed concerns about tighter financial conditions.
As long as political tensions remain elevated and the outlook for U.S. monetary policy stays unclear, gold is likely to remain supported, traders said, even as volatility persists across global asset markets.
Source: Accra Street Journal
Last Updated on January 6, 2026 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
