Gold prices climbed slightly on Monday as investors eagerly anticipate signals about the Federal Reserve's interest rate trajectory and President-elect Donald Trump's tariff policies in 2025.
GOLD prices edged up on Monday, with investors keeping a close eye on potential clues about the U.S. Federal Reserve 's interest rate plans for 2025 and President-elect Donald Trump's tariff policies, which could significantly influence the metal's trajectory. Spot gold rose 0.1% to $2,622.74 per ounce as of 0506 GMT. U.S. gold futures also climbed 0.1% to $2,635.10.
Kelvin Wong, OANDA's senior market analyst for Asia Pacific, noted that the dollar index has been relatively stable, contributing to gold's sideways movement. Wong highlighted that geopolitical tensions, a key driver of gold's upward trend this year, are expected to remain a significant factor in 2025, especially with Trump's return to the White House. He anticipates continued sideways price movement in the near term until the start of the new year. Markets are gearing up for major U.S. policy changes, including potential tariffs, deregulation, and tax reforms, once Trump takes office in January. Gold prices have surged over 27% this year, reaching an all-time high of $2,790.15 on October 31st, fueled by substantial Fed rate cuts, including a significant reduction in September, and heightened geopolitical uncertainties. The U.S. central bank has lowered rates by 100 basis points this year but has signaled a reduction in the pace of cuts in 2025. Higher interest rates typically diminish the appeal of non-yielding assets like gold. Spot silver advanced 0.2% to $29.44 per ounce, while platinum inched up 0.3% to $922.30 after hitting a three-month low on Friday
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