{"id":109903,"date":"2024-12-27T11:16:45","date_gmt":"2024-12-27T07:16:45","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=109903"},"modified":"2024-12-27T11:16:47","modified_gmt":"2024-12-27T07:16:47","slug":"gold-prices-steady-in-thin-year-end-trading-set-for-weekly-gain","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-prices-steady-in-thin-year-end-trading-set-for-weekly-gain\/12\/27\/market-updates\/","title":{"rendered":"Gold Prices Steady in Thin Year-End Trading, Set for Weekly Gain"},"content":{"rendered":"\n

<\/p>\n\n\n\n

\n\n\n\n

Key Highlights<\/strong><\/h3>\n\n\n\n
    \n
  1. Gold Prices Hold Steady<\/strong>:\n
      \n
    • Spot Gold<\/strong>: Unchanged at $2,633.40 per ounce<\/strong>.<\/li>\n\n\n\n
    • Gold Futures (Feb)<\/strong>: Slight dip of 0.2% to $2,649.91 per ounce<\/strong> by 05:20 GMT.<\/li>\n\n\n\n
    • Weekly Performance<\/strong>: Set to gain 0.3%<\/strong>, recovering from a 1% decline last week<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
    • Muted Trading Activity<\/strong>:\n
        \n
      • Year-end holidays reduced trading volumes as institutional traders closed their books.<\/li>\n\n\n\n
      • Fewer economic data releases and policy decisions resulted in limited price volatility.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
      • Impact of a Strong Dollar<\/strong>:\n
          \n
        • The U.S. Dollar Index<\/strong> remains near a two-year high<\/strong>, pressuring gold prices by making it more expensive for non-dollar buyers.<\/li>\n\n\n\n
        • Hawkish signals from the Federal Reserve<\/strong>, indicating only two rate cuts in 2025<\/strong> compared to prior expectations of four, have further weighed on gold.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n
          \n\n\n\n

          Other Precious Metals<\/strong><\/h3>\n\n\n\n
            \n
          • Platinum Futures<\/strong>: Unchanged at $954.50 per ounce<\/strong>.<\/li>\n\n\n\n
          • Silver Futures<\/strong>: Stable at $30.38 per ounce<\/strong>.<\/li>\n<\/ul>\n\n\n\n
            \n\n\n\n

            Industrial Metals Update<\/strong><\/h3>\n\n\n\n
              \n
            1. Copper Prices Rise Slightly<\/strong>:\n
                \n
              • Benchmark Copper Futures (LME)<\/strong>: Up 0.5% to $9,008.50 per ton<\/strong>.<\/li>\n\n\n\n
              • February Copper Futures<\/strong>: Edged down 0.1% to $4.1360 per pound<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
              • China Smelter Charges Reflect Shortage<\/strong>:\n
                  \n
                • China’s smelters reduced copper concentrate treatment and refining charges<\/strong> for Q1 2025 by 28.6%<\/strong>, signaling a shortage.<\/li>\n\n\n\n
                • New rates: $25 per metric ton and 2.5 cents per pound<\/strong>, down from Q4’s $35 and 3.5 cents<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
                • Strong Dollar Limits Copper Gains<\/strong>:\n
                    \n
                  • While the concentrate shortage supported copper prices, the robust dollar capped significant upside.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n
                    \n\n\n\n

                    Conclusion<\/strong><\/h3>\n\n\n\n

                    Gold prices are steady in thin year-end trading, with modest weekly gains despite a strong dollar weighing on momentum. Industrial metals like copper reflect a nuanced trend, with supply-side constraints offering support, though broader dollar strength remains a headwind. Market focus now shifts to early 2025 for potential catalysts in both precious and industrial metals.<\/p>\n","protected":false},"excerpt":{"rendered":"

                    Key Highlights Gold Prices Hold Steady: Spot Gold: Unchanged at $2,633.40 per ounce. Gold Futures (Feb): Slight dip of 0.2% to $2,649.91 per ounce by 05:20 GMT. Weekly Performance: Set to gain 0.3%, recovering from a 1% decline last week. Muted Trading Activity: Year-end holidays reduced trading volumes as institutional traders closed their books. Fewer …<\/p>\n","protected":false},"author":9,"featured_media":108107,"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":[38,37,36],"tags":[6868,9278,11265,8323],"class_list":["post-109903","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fomc","tag-gold-price","tag-rate-poicy","tag-sep"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109903","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=109903"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109903\/revisions"}],"predecessor-version":[{"id":109904,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109903\/revisions\/109904"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/108107"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=109903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=109903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=109903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}