(RTTNews) – Gold prices gave back some ground obtained earlier in the session on Tuesday as traders opted for profit booking from recent record highs. U.S. inflation data that kept rate cut bets afloat and the turmoil in Iran that supported safe-haven demand limited the decline.
Front Month Comex Gold for January delivery slipped by $15.10 (or 0.33%) to $4,589.20 per troy ounce.
Front Month Comex Silver for January delivery soared by $1.2670 (or 1.50%) to $85.877 per troy ounce. Notably, this is a new record high for silver prices, which have risen for three consecutive sessions.
Yesterday, gold prices hit a new record high price with Front Month Comex Gold for January delivery zooming by 2.54% to $4,604.30 per troy ounce.
Today, the U.S. Labor Department data revealed that the month-on-month core consumer prices, (which exclude food and energy) rose by 0.2% from the previous month for December 2025. This is slightly softer than the median market expectations of a 0.3% increase.
The annual core consumer price inflation rate (which excludes volatile items like food and energy) stood at 2.6% in December 2025,
Month-on-month, consumer prices increased by 0.3% in December in line with market estimates.
The annual inflation rate in the U.S. remained at 2.7% in December 2025, again in line with market expectations.
Of note, data for October and November were unavailable due to the U.S. shutdown.
Automatic Data Processing data revealed that private employers added an average of 11,750 jobs per week for the four weeks ending December 20, 2025, up from an average gain of 11,000 during the prior period.
The U.S. Federal Reserve may not quickly change its monetary policy path though it can be expected to cut rates later.
CME Group’s FedWatch Tool is currently indicating that investors are betting on a 97.2% chance of rates being left unchanged at the Federal Reserve’s upcoming January 27-28 meeting.
The civil uprising in Iran has reportedly claimed thousands of lives as the government cracked down on demonstrators.
All global news agencies are crippled by “internet blackout” and hence the true scenario inside Iran is obscured.
After warning Iran not to adopt violent measures against peaceful protestors, the U.S. is reportedly considering air strikes on Iran. However, Iran’s foreign minister responded stating, “We are ready for it.”
Further, Trump announced 25% tariffs on goods entering the U.S. from countries that have trade ties with Iran.
Major trading partners of Iran, China, Iraq, the United Arab Emirates, Turkey, and India stand to be impacted largely.
China responded stating the nation would safeguard its legitimate interests.
On January 3, U.S. forces captured Venezuelan President Nicolas Maduro and his wife and extradited the couple to the U.S. to put them on trial for several criminal charges.
Trump announced intentions to run the country though an interim government is currently in place and stated that the nation has agreed to transfer 30-50 million barrels of crude oil to the U.S.
Earlier this week, U.S. Federal Reserve Chair Jerome Powell stated that he was being prosecuted by the Department of Justice for his alleged misdeeds during the renovation of the Fed building last year.
Experts view Trump’s moves as threats to make the Fed to fall in line with his wants. Trump distanced himself from commenting on the pending investigation.
Nearly 10 governors of global central banks have issued a joint statement expressing “full solidarity” with Powell.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
