🧐 Gold didn’t ease into 2026 it arrived with momentum...🔥
On the first trading session of the new year, bullion traded near $4,340 an ounce, building on what has become its strongest annual run in over forty years. The bulk of last year’s roughly 65% gain gathered pace from late April, following the rollout of broad global tariffs by the US government.
Since that turning point, several structural forces have stayed in play. Ongoing geopolitical instability has kept risk appetite restrained, while expectations of softer US interest rates have supported non-yielding assets. At the same time, central banks have continued to add to reserves, and capital has steadily returned to gold-backed ETFs.
Recent signals from policymakers added another layer. Minutes from the Federal Reserve’s December meeting suggested an increasing willingness to consider policy easing if inflation trends lower, even as officials differed on how quickly or how aggressively any cuts should come.
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Tensions on the global stage also remained unresolved. Washington intensified actions against Venezuela’s oil flows, while renewed exchanges between Russia and Ukraine over the New Year period focused on Black Sea ports and critical energy infrastructure, reinforcing the broader climate of uncertainty.
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