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11.09.202512:59:45UTC+00Gold Holds Near Record High Amid US Data and Geopolitical Tensions

Gold prices remain stable at $3,630 per ounce on Thursday, maintaining their position despite morning losses and staying close to record highs. This steadiness occurs as investors assess a series of US economic data, which continue to support the anticipation of rate cuts. The report on weekly jobless claims revealed a sharp increase of 27,000, reaching 263,000—the highest since October 2021. At the same time, US consumer prices climbed by 0.4% in August, doubling the 0.2% gain from July, and slightly surpassing the projected increase of 0.3%. This pushed annual inflation to a seven-month peak of 2.9%, aligning with expectations. These developments follow Wednesday's Producer Price Index (PPI) report, which indicated an unexpected decline in producer prices. Additionally, geopolitical tensions are enhancing gold's appeal as a safe-haven asset. In recent events, President Donald Trump urged the European Union to impose tariffs on China and India to exert pressure on Russia regarding the Ukraine conflict. Meanwhile, hostilities in the Middle East have escalated, and Poland reported the interception of Russian drones violating its airspace during a substantial strike in western Ukraine.

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