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Gold consolidates gains as Venezuela crisis keeps investors cautious
Gold holds just below record territory as geopolitical tensions between the US and Venezuela keep safe-haven demand elevated.
A modest rebound in the US Dollar and Treasury yields caps follow-through buying.
Technically, Gold holds a bullish bias, supported by rising moving averages.
Gold (XAU/USD) consolidates on Tuesday after posting gains of more than 2.5% the previous day, driven by a surge in safe-haven demand following United States (US) attacks on Venezuela. At the time of writing, XAU/USD is trading around $4,460, down modestly from an intraday peak near $4,475.
The downside for Gold remains limited as investors continue to monitor developments in the US-Venezuela relationship. Over the weekend, US armed forces captured and brought Venezuelan President Nicolás Maduro to New York, where Maduro is facing narco-terrorism and drug-trafficking charges.
While safe-haven demand remains elevated, fresh buying has eased after Monday’s sharp advance, with a modest rebound in the US Dollar…
