Gold Steady as Fed Holds Rates, Market Eyes Economic Signals

15 hours ago 2

Gold prices remained level successful aboriginal Asian trading connected Thursday aft the U.S. Federal Reserve held involvement rates steady, offering small clarity connected the monetary argumentation outlook for the year.

Market Overview

Spot gold held dependable astatine $2,671.79 per ounce arsenic of 0049 GMT.
U.S. golden futures edged up 0.2% to $2,774.50 per ounce.

Key Drivers

The Federal Reserve kept involvement rates unchanged connected Wednesday, with Chair Jerome Powell stating that the cardinal slope volition hold for further advancement connected ostentation oregon signs of labour marketplace weakness earlier considering complaint cuts.
Higher involvement rates typically trim the entreaty of non-yielding assets similar gold.
The determination was wide expected aft the Fed’s 2024 complaint cuts, which had already lowered the benchmark complaint by a afloat percent point.

Geopolitical & Economic Factors

Traders are digesting U.S. President Donald Trump’s latest tariff threats, with the White House confirming plans for steep tariffs connected Mexico and Canada starting Saturday, and imaginable levies connected China implicit the weekend.
Analysts pass that specified policies could thrust ostentation higher, perchance forcing the Fed to support elevated involvement rates, dampening gold’s entreaty arsenic an ostentation hedge.
Meanwhile, the European Central Bank (ECB) is expected to cut involvement rates aboriginal today.

Other Precious Metals

Silver roseate 0.2% to $30.85 per ounce.
Platinum gained 0.7% to $952.49 per ounce.
Palladium edged up 0.5% to $967.38 per ounce.

Upcoming Economic Data (GMT)

06:30 – France Q4 GDP (Preliminary)
09:00 – Germany Q4 GDP (Flash Estimate)
10:00 – Eurozone GDP (Preliminary), Consumer Confidence (Final), Unemployment Rate (Dec)
13:15 – ECB Interest Rate Decision
13:30 – U.S. Q4 GDP (Advance), Initial Jobless Claims (Jan 25)
15:30 – U.S. EIA Natural Gas Storage Report

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