{"id":110005,"date":"2024-12-31T11:38:15","date_gmt":"2024-12-31T07:38:15","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=110005"},"modified":"2024-12-31T11:38:18","modified_gmt":"2024-12-31T07:38:18","slug":"gold-prices-steady-amid-thin-year-end-trading-set-for-strong-yearly-gains","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-prices-steady-amid-thin-year-end-trading-set-for-strong-yearly-gains\/12\/31\/market-updates\/","title":{"rendered":"Gold Prices Steady Amid Thin Year-End Trading, Set for Strong Yearly Gains"},"content":{"rendered":"\n

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

Gold prices remained largely unchanged during Asian trading hours on Tuesday, with Spot Gold<\/strong> steady at $2,607.65 per ounce<\/strong> and Gold Futures<\/strong> for February delivery edging 0.2% lower<\/strong> to $2,620.22 per ounce<\/strong> by 00:23 ET (05:23 GMT).<\/p>\n\n\n\n

Year-end trading typically sees thin volumes, with institutional investors wrapping up positions ahead of the holiday season, keeping price action subdued.<\/p>\n\n\n\n

\n\n\n\n

Gold\u2019s Stellar 2024 Performance<\/strong><\/h3>\n\n\n\n
    \n
  • Annual Gain:<\/strong> Gold prices have surged over 26% in 2024<\/strong>, driven by the U.S. Federal Reserve’s aggressive rate cuts earlier in the year and heightened geopolitical tensions.<\/li>\n\n\n\n
  • Impact of Low Interest Rates:<\/strong> With interest rates lower, gold became more attractive as a store of value due to its reduced opportunity cost compared to interest-bearing assets.<\/li>\n\n\n\n
  • December Setback:<\/strong> The Fed’s recent signal of only two rate cuts in 2025<\/strong> versus earlier expectations of four led to a stronger U.S. dollar and a subdued gold outlook.<\/li>\n<\/ul>\n\n\n\n
    \n\n\n\n

    Market Outlook for Gold<\/strong><\/h3>\n\n\n\n

    Gold faces challenges from the strengthening U.S. dollar<\/strong>, which makes the metal more expensive for international buyers. However, persistent geopolitical tensions and inflation concerns could sustain gold’s appeal as a hedge in 2025.<\/p>\n\n\n\n

    \n\n\n\n

    Other Precious Metals<\/strong><\/h3>\n\n\n\n
      \n
    • Platinum:<\/strong> Futures dipped 0.4%<\/strong> to $913.65 per ounce<\/strong>.<\/li>\n\n\n\n
    • Silver:<\/strong> Futures inched down 0.3%<\/strong> to $29.315 per ounce<\/strong>.<\/li>\n<\/ul>\n\n\n\n
      \n\n\n\n

      Industrial Metals: Copper Under Pressure Despite China\u2019s Factory Growth<\/strong><\/h3>\n\n\n\n

      Copper prices were subdued, with Benchmark Copper Futures<\/strong> on the London Metal Exchange edging 0.2% lower<\/strong> to $8,925.50 a ton<\/strong> and February futures largely unchanged at $4.0885 per pound<\/strong>.<\/p>\n\n\n\n

        \n
      • China\u2019s Manufacturing Growth:<\/strong> Data showed China\u2019s factory activity expanded for the third consecutive month in December, supported by stimulus measures. However, growth was weaker than expected, tempering optimism for copper demand.<\/li>\n\n\n\n
      • Impact of the Dollar:<\/strong> The near two-year high of the U.S. Dollar Index weighed on copper, reflecting the metal’s sensitivity to currency movements.<\/li>\n<\/ul>\n\n\n\n

        Outlook:<\/strong> Copper\u2019s performance remains tied to global demand, particularly from China, and the direction of the U.S. dollar as we head into 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

        Gold prices remained largely unchanged during Asian trading hours on Tuesday, with Spot Gold steady at $2,607.65 per ounce and Gold Futures for February delivery edging 0.2% lower to $2,620.22 per ounce by 00:23 ET (05:23 GMT). Year-end trading typically sees thin volumes, with institutional investors wrapping up positions ahead of the holiday season, keeping …<\/p>\n","protected":false},"author":9,"featured_media":103163,"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":[7603,7517],"class_list":["post-110005","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-gold-prices","tag-interest-rates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110005","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=110005"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110005\/revisions"}],"predecessor-version":[{"id":110008,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110005\/revisions\/110008"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/103163"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=110005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=110005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=110005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}