Europe Asia News

Despite the pullback, gold is still up more than 70% this year, marking its strongest annual gain since 1979, supported by strong central bank purchases, even as inflows into exchange-traded funds (ETFs) have trended lower.

U.S. President Donald Trump said “major progress” had been made in peace talks with Ukrainian President Volodymyr Zelenskiy, though he noted a deal could take weeks. Zelenskiy added that more than 90% of the framework had been agreed and that U.S.-Ukraine security guarantees were fully resolved, but key issues, including territorial control of the Donbas region, remain unresolved.

Rising tensions in the Middle East and escalating frictions between the U.S. and Venezuela have also increased uncertainty. Meanwhile, investors are pricing in two rate cuts next year, and markets are awaiting this week’s Federal Open Market Committee (FOMC) minutes for additional clues on the future path of interest rates. Backed by central bank buying and steady ETF inflows, gold has gained more than 70% this year, heading for its strongest annual performance since 1979.