{"id":109001,"date":"2024-12-05T10:41:29","date_gmt":"2024-12-05T06:41:29","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=109001"},"modified":"2024-12-05T10:51:43","modified_gmt":"2024-12-05T06:51:43","slug":"gold-prices-remain-flat-amid-strong-dollar-and-improved-risk-appetite","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-prices-remain-flat-amid-strong-dollar-and-improved-risk-appetite\/12\/05\/market-updates\/","title":{"rendered":"Gold Prices Remain Flat Amid Strong Dollar and Improved Risk Appetite"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p>Gold prices showed limited movement in Asian trading on Thursday, as improved risk appetite and a strong U.S. dollar weighed on safe-haven demand despite political turbulence in France and South Korea.<\/p>\n\n\n\n<p><strong>Market Performance<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Spot Gold<\/strong>: Fell slightly to $2,649.09 an ounce.<\/li>\n\n\n\n<li><strong>Gold Futures (February)<\/strong>: Declined 0.1% to $2,672.99 an ounce by 23:14 ET (04:14 GMT).<\/li>\n<\/ul>\n\n\n\n<p>Wall Street\u2019s rally to record highs, driven by strength in technology shares, further eroded demand for the yellow metal.<\/p>\n\n\n\n<p><strong>Safe Haven Demand Dwindles Amid Political Turmoil<\/strong><br>Political unrest in France and South Korea, typically supportive of haven assets like gold, failed to lift demand:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>France<\/strong>: The government faced collapse.<\/li>\n\n\n\n<li><strong>South Korea<\/strong>: Calls for President Yoon Suk-Yeol&#8217;s impeachment intensified after his failed martial law attempt.<\/li>\n<\/ul>\n\n\n\n<p>However, these events had limited impact as global markets largely advanced, overshadowing localized volatility.<\/p>\n\n\n\n<p><strong>Other Precious and Industrial Metals<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Platinum<\/strong>: Rose 0.1% to $949.60 an ounce.<\/li>\n\n\n\n<li><strong>Silver<\/strong>: Dropped 0.5% to $31.767 an ounce.<\/li>\n\n\n\n<li><strong>Copper<\/strong>: Benchmark futures fell 0.2% to $9,086.50 a ton, while February futures edged down 0.1% to $4.1943 a pound.<\/li>\n<\/ul>\n\n\n\n<p><strong>Dollar Strength and Fed Comments<\/strong><br>The U.S. dollar maintained strength, supported by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Trump\u2019s Tariff Threats<\/strong>: The President-elect proposed imposing tariffs on several nations.<\/li>\n\n\n\n<li><strong>Fed Chair Powell\u2019s Remarks<\/strong>: Powell praised the U.S. economy&#8217;s resilience, signaling a more cautious approach to interest rate cuts moving forward.<\/li>\n<\/ul>\n\n\n\n<p>While Powell reiterated the likelihood of a December rate cut, he tempered expectations for aggressive easing in 2025. Concerns over potential long-term inflation due to expansionary policies under Trump added further uncertainty.<\/p>\n\n\n\n<p><strong>Impact on Non-Yielding Assets<\/strong><br>Higher-for-longer interest rates continued to weigh on non-yielding assets like gold and other metals.<\/p>\n\n\n\n<p><strong>Key Data Ahead<\/strong><br>Investors are awaiting the <strong>nonfarm payrolls data<\/strong> on Friday, a critical indicator likely to shape expectations for the Fed\u2019s future monetary policy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices showed limited movement in Asian trading on Thursday, as improved risk appetite and a strong U.S. dollar weighed on safe-haven demand despite political turbulence in France and South Korea. Market Performance Spot Gold: Fell slightly to $2,649.09 an ounce. Gold Futures (February): Declined 0.1% to $2,672.99 an ounce by 23:14 ET (04:14 GMT). &hellip;<\/p>\n","protected":false},"author":9,"featured_media":94938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6874],"class_list":["post-109001","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=109001"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109001\/revisions"}],"predecessor-version":[{"id":109002,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109001\/revisions\/109002"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94938"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=109001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=109001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=109001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}