Global gold prices "cool down" awaiting signals from the US Federal Reserve.

The spot price of gold on the world market fell 0.4% to $2,611.17 per ounce, while the price of gold futures traded in the US also decreased by 0.6%, to $2,628.20 per ounce.

Gold bars are sold in Kota Bharu, Kelantan state, Malaysia.

In the trading session on December 23, world gold prices fell as the US dollar strengthened and US bond yields remained high.

In addition, investors are awaiting clearer signals regarding the monetary policy of the US Federal Reserve (Fed) in 2025.

Specifically, spot gold prices fell 0.4% to $2,611.17 per ounce. Meanwhile, gold futures in the US also declined 0.6% to $2,628.20 per ounce.

In this session, the USD index rose 0.4% against other currencies and fluctuated around its highest level in two years. This reduced the attractiveness of gold for holders of other currencies.

Yields on 10-year US Treasury bonds also rose higher. Peter Grant, senior strategist at precious metals brokerage Zaner Metals, said the market is continuing to assess the outcome of last week's Federal Open Market Committee (FOMC) meeting.

He suggested that a slower interest rate hike trajectory for 2025 is being considered and there may be a pause in January, or possibly even March. Although the Fed cut interest rates by 25 basis points last week, signals of fewer rate cuts in 2025 have sent gold prices to their lowest level since mid-November.

Given that gold typically benefits from low interest rate environments, investors are adjusting their expectations for the coming year.

This year, gold prices have hit several records and are estimated to have risen 27%, marking its best year of growth since 2010. This growth has been driven by strong buying by central banks, geopolitical tensions, and the easing of monetary policy by major banks.

Michael Langford, Chief Investment Officer of Scorpion Minerals, believes that one of the next major factors impacting gold prices is Donald Trump's inauguration as US President and the executive orders he may issue.

This could potentially increase market volatility and benefit gold prices.

President-elect Donald Trump will take office on January 20th. Gold, considered a safe haven, typically rises sharply during times of economic uncertainty.

In other precious metals markets, spot silver prices rose 0.5% to $29.67 per ounce, platinum prices increased 1.2% to $937.65 per ounce, and palladium prices rose 1.1% to $931.10 per ounce.

In the domestic market, at the beginning of the morning of December 24th, Saigon Jewelry Company announced the price of SJC gold bars at 82.50-84.50 million VND/ounce (buying price - selling price).

(Source: VNA/Vietnam+)

Source: https://baophutho.vn/gia-vang-the-gioi-ha-nhiet-cho-tin-hieu-tu-cuc-du-tru-lien-bang-my-225095.htm