Gold prices retreat from recent highs as investors focus on U.S. economic data

Gold prices edged lower on Wednesday, trading around $4,476 per ounce, as the market paused following a strong two-day rally.

The decline of approximately 0.4% reflects a shift in investor focus from geopolitical tensions in Venezuela toward upcoming U.S. macroeconomic indicators, including the December jobs report.

Despite the slight pullback, bullion continues to find support from global uncertainty, with some analysts projecting the metal could test resistance levels at $4,550 later this month.

Central banks remain active buyers, further underpinning the long-term bullish trend that has seen gold prices rise over 68% year-on-year.

N.Tebrizli