FX.co ★ Gold Edges Higher

On Tuesday, gold prices climbed beyond $3,220 per ounce, driven by ongoing uncertainties surrounding the US economic future and fiscal deficit, which continued to bolster the appeal of safe-haven assets. Last Friday, Moody's downgraded the US credit rating from "Aaa" to "Aa1," attributing this change to the increasing national debt and interest levels that notably surpass those of similarly rated countries. Investors are now closely monitoring speeches from several Federal Reserve officials scheduled for later today, as these may provide further insights into the central bank's policy direction and the state of the US economy. On the geopolitical front, US President Donald Trump stated on Monday, following a conversation with Russian President Vladimir Putin, that Ukraine and Russia are set to "immediately" commence ceasefire negotiations, possibly without US involvement.