Gold market has been quite interesting lately. Over the past few days, gold prices have hovered around $4340 per ounce, and on Wednesday, they even increased by 0.8%. It’s worth noting that this level is just about $40 above the October historical high, so it’s very close.

What are investors most focused on now? One is the increasingly tense situation in Venezuela, and the other is the inflation data to be released by the US on Thursday. This data is highly significant because it directly affects the Federal Reserve’s next move.

Based on recent statements from Federal Reserve officials, there is a possibility of a 50 to 100 basis point rate cut in 2026. That translates to 2 to 4 rate cut opportunities. This is a positive signal for gold — rate cuts often mean a weaker dollar, which naturally pushes gold prices higher. So, moving forward, we really need to keep a close eye on how the inflation data develops.