The gold market remains at the crossroads of politics and macroeconomics. Will it maintain its upward momentum?

Haven asset demand rises as gold steadies at $2,634/oz amid political unrest in South Korea and France.

In South Korea, a surprising martial law declaration (and quick reversal) by President Yoon Suk Yeol has spurred impeachment calls.

In France, President Macron faces challenges to stabilize his government amidst growing pressure.

Gold prices are down 5% from October’s peak but remain 28% higher this year, supported by central-bank purchases and easing US monetary policy.

JPMorgan forecasts gold to average $2,950/oz by Q4 2025, seeing recent dips as a short-term correction.

Industrial metals are mixed, with copper down 0.7%, and declines in silver, platinum, and palladium.

Key events ahead include US nonfarm payroll data on Friday, preceding the Fed’s anticipated interest rate cut on Dec. 18.