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17.12.202519:40:17UTC+00Gold Nears Record Highs

Gold climbed past $4,340 an ounce on Wednesday, approaching October’s record levels, as investors anticipated further easing by the Federal Reserve and sought refuge in safe assets amidst escalating geopolitical tensions. Fed Governor Waller indicated that interest rates might be reduced by up to a full percentage point, pointing to stagnant job growth and a cooling labor market as key factors. Earlier this week, U.S. labor statistics echoed these signs of a slowing job market. The unemployment rate rose to 4.6%, its highest since 2021, while a larger-than-expected rise in November payrolls only partially offset the significant slowdown seen in October. Meanwhile, geopolitical concerns intensified after President Donald Trump enacted a "total and complete" blockade on Venezuelan oil tankers already under sanctions, following recent seizures and a bolstering of U.S. military presence. Russian President Vladimir Putin further compounded these tensions by clearly indicating on Wednesday his unwillingness to compromise on his demands for Ukraine to cede territory, even as U.S. President Trump increases efforts to achieve peace.

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