Gold prices continued their upward trend from the record-breaking year of 2024, fueled by expectations of policy shifts from President-elect Donald Trump and ongoing geopolitical tensions. Spot gold rose 0.4% to $2,634.88 per ounce, while analysts predict continued bullish sentiment in 2025 driven by geopolitical risks and potential government debt increases.
An employee holds one kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Dec. 22, 2023. - Photographer: Chalinee Thirasupa/Bloomberg
Bullion surged over 27% last year, its biggest annual gain since 2010, as the U.S. Federal Reserve's substantial rate cuts, robust central bank purchases and escalating geopolitical tensions boosted it to multiple record highs last year. "Gold seems to be consolidating in a tight range, which often signals a market that's poised for a breakout. I suspect that breakout will be to the upside," said Kyle Rodda, financial market analyst at Capital.com.
The market will now take cues from a slew of U.S. economic data due next week, which could influence the interest rate outlook for 2025, and Trump's tariff policies.Traders anticipate the Fed to adopt a slow and cautious approach to further rate cuts in 2025, as inflation continues to exceed its 2% target. According to the CME's FedWatch Tool, markets are pricing in just 11.2% chance of a cut in January.
COMMODITIES GOLD INTEREST RATES ECONOMIC OUTLOOK GEOPOLITICAL RISKS
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Prices Surge Over 34% in 2024, Could Hit $3,000 by 2025Gold's price has seen a significant rise in 2024, jumping over 34% since January. Financial analysts speculate if gold will reach the $3,000 mark by 2025. Inflation and interest rates are key factors influencing gold prices, with investors viewing gold as a stable investment during economic instability.
Read more »
CKD Car Prices in Malaysia to Rise by 8% to 20% in 2025?The impending implementation of revised excise duty regulations for locally-assembled (CKD) vehicles in Malaysia is expected to lead to a significant price increase for these cars, ranging from 8% to 20% by 2025.
Read more »
Palm Oil Prices Forecast to Rise by 2025 Due to Stagnant ProductionThe Council of Palm Oil Producing Countries (CPOPC) predicts a rise in palm oil prices by 2025, citing stagnating production in key exporting nations.
Read more »
Malaysia to Set Electricity Tariffs for 2025-2027 Period Mid-2025Tenaga Nasional Bhd (TNB) announced that the Malaysian government will determine electricity tariff rates and the tariff structure for the regulatory period 2025-2027 (RP4) by mid-2025. The base tariff rate is expected to increase by 14 percent, reaching 45.62 sen per kilowatt hour, driven by rising coal and LNG prices. However, the government aims to protect consumers, with rates for approximately 85 percent of households likely remaining unchanged.
Read more »
Gold Price Poised for Further Gains in 2025Gold prices are expected to continue their upward trajectory in 2025, with experts predicting values between US$2,900 and US$3,000 per ounce, potentially reaching even higher levels. This optimism stems from several factors, including increased gold purchases by central banks worldwide seeking a reliable investment, geopolitical tensions, anticipated declines in global interest rates, and ongoing economic uncertainties.
Read more »
CPOPC: Palm oil prices could range between RM4,000 and RM5,000 per tonne in 2025JAKARTA: The Council of Palm Oil Producing Countries (CPOPC) forecasts palm oil prices could range between RM4,000 and RM5,000 per tonne in 2025, driv...
Read more »