Gold prices dip after US-Venezuela oil move
Gold prices slipped on Wednesday, dropping 0.8% to $4,461.51 per ounce after hitting a record high just two weeks ago.
US gold futures also edged down, trading at $4,471.30.
Why does this matter?
Even with this dip, gold has soared nearly 69% in the past year—so if you're watching investments or thinking about inflation, it's still a big deal.
Major banks like JPMorgan and Goldman Sachs expect gold to keep climbing through 2026.
What's behind the drop?
The fall comes right after President Trump announced plans to release blocked Venezuelan oil into the market—a move that could ease tensions and boost oil supply.
Plus, a stronger dollar is making gold pricier for buyers outside the US.
Looking ahead
Markets are expecting two Fed rate cuts this year, and steady buying from central banks is keeping long-term hopes for gold pretty strong.