Gold Hovers Near Record and Platinum Extends Rally After CPI

Group 1: Gold Market Insights - Gold is trading near a record high, currently around $4,340 an ounce, just $40 away from its all-time high reached in October [2] - The recent US inflation data showed a slower-than-expected rise in the core consumer prices index, supporting expectations for further interest-rate cuts by the Federal Reserve [2][3] - Gold has increased by approximately two-thirds this year, on track for its best annual performance since 1979, driven by central-bank buying and inflows into gold-backed exchange-traded funds [5] Group 2: Platinum Market Dynamics - Platinum has risen for six consecutive sessions and has more than doubled in value this year, marking the largest annual gain since data collection began in 1987 [6] - The London market is showing signs of tightening, with banks storing metal in the US to mitigate tariff risks, and robust exports to China have bolstered optimism for demand [6] - Trading volumes and open interest for platinum futures have surged on the Guangzhou Futures Exchange, with prices exceeding other international benchmarks, contributing to the global rally [7] Group 3: Geopolitical Factors - Heightened geopolitical tensions, particularly in Venezuela, have increased the appeal of precious metals, with the US military presence in the region applying pressure on the Maduro government [4] - The blockade of sanctioned oil tankers ordered by Trump has also provided a boost to precious metals this week [4]