Gold News – 16.Jan.2025

Gold News

Gold Prices Steady:

Spot gold held at $2,696.69 after hitting over one-month highs. U.S. gold futures rose 0.3% to $2,726.60.

Core Inflation Data Impact:

Softer U.S. core inflation data lowered expectations of aggressive rate cuts, boosting demand for gold as a safe-haven asset.

Reduced inflation lifted hopes of a less restrictive Fed policy, potentially easing monetary conditions.

Market Reactions:

Traders are pricing in two potential Fed rate cuts by the end of the year, with the first expected in June.

A ceasefire between Israel and Hamas reduced gold’s safe-haven appeal slightly.

Broader Context:

Concerns about potential tariffs under President-elect Donald Trump could increase inflationary pressures.

The dollar weakened slightly due to cooling inflation, supporting gold prices further.

Performance of Other Metals:

Palladium fell 0.2% to $959.

Silver rose 0.5% to $30.80 per ounce.

Platinum gained 0.9% to $944.54.

Author : Arman Shaban
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