Analysts: Interest rate cut expectations and safe-haven demand are driving up gold prices; focus this week on key non-farm payroll data.

gold prices continued to rise on Tuesday, reaching a one-week high, boosted by dovish remarks from Federal Reserve officials raising expectations of rate cuts and increased safe-haven demand due to tensions in Venezuela. Ilya Spivak, Global Macro Head at Tastylive, stated that (the Fed officials' remarks) certainly did not have a negative impact but did not seem to fundamentally change the market's judgment. This week is very critical, with the employment report to be released on Friday. Federal Reserve's Kashkari said on Monday that inflation is slowly declining, but there is a risk of a "sudden rise" in the unemployment rate, which increases the likelihood of rate cuts. Currently, investors expect at least two rate cuts this year. Spivak added: "The US-Venezuela Maduro incident highlights a broader trend of deglobalization." In a low-interest-rate environment and periods of geopolitical or economic uncertainty, assets that do not generate income usually perform better.