On Thursday (19th), spot gold rose 0.4% to $2598.20 per ounce, recovering from earlier losses, while U.S. gold futures fell 1.7%. Strong U.S. economic data, including better-than-expected growth and jobless claims, fueled expectations that the Federal Reserve will maintain a cautious policy next year, which is negative for gold. Despite an initial drop in prices, the decline attracted investors, pushing gold up 1.5%. Gold remains a safe investment during economic uncertainty, with markets awaiting U.S. PCE data for further economic insights.

Gold Prices Rise Slightly as Strong U.S. Data Fuels Fed Policy Expectations

Dec 20 2024