login_img.jpg
Login ID:
Password:
Partner Login
Contact Us : 7066511911

Gold Steady as Markets Await Clarity on U.S. Policies

23 Jan 2025 3:10 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI, 23 Jan (Commoditiescontrol): Gold prices remained largely unchanged on Thursday as investors awaited further direction on U.S. policy decisions under President Donald Trump’s administration.

Spot gold dipped slightly by 0.1% to $2,753.14 per ounce, trading within a narrow $8 range. On Wednesday, prices reached their highest levels since October 31. Meanwhile, U.S. gold futures fell 0.4% to $2,760.40 per ounce.

Analysts suggest that gold could edge closer to the critical $3,000 mark if Trump’s proposed policies fuel demand for inflation hedges and safe-haven assets. Among these policies are proposed tariffs of 25% on Canada and Mexico and 10% on China, set to take effect on February 1. Trump also hinted at potential tariffs on European imports, though specifics were not disclosed.

Gold often benefits during periods of economic or geopolitical uncertainty, as it is considered a secure investment. However, rising interest rates can diminish gold’s appeal, as it does not yield any interest.

The Federal Reserve’s upcoming meeting on January 28-29 is expected to bring more clarity to the economic outlook. While steady economic growth and declining inflation are anticipated, uncertainty surrounding Trump’s policies may influence discussions. According to the CME Group’s FedWatch Tool, traders see a 96% likelihood that the central bank will leave benchmark interest rates unchanged.

Global market attention will also be on the Bank of Japan’s rate decision scheduled for Friday and the European Central Bank’s announcement next week.

In other precious metals, spot silver fell by 0.7% to $30.59 per ounce, while platinum edged down 0.1% to $945.35. Palladium bucked the trend, gaining 1% to reach $987.30 per ounce.

As markets navigate policy uncertainties and interest rate decisions, gold’s performance will remain closely tied to global economic developments and investor sentiment.

(By Commoditiescontrol Bureau; +91 98201 30172)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Post Comment  

Latest Market Commentary
Gold Prices Hold Near Record High Amid Trade War Concer...
Gold Prices Surge to Record High Amid U.S.-China Trade ...
Global Gold Demand Soars to Record High in 2024 Amid Ce...
Gold Soars to Record High as Trade War Sparks Safe-Have...
Gold Steady Near Record High as Investors Weigh U.S. Ta...
more
Top 5 News
Market Wise Urad Arrivals: Supply Up By 1.1% Against Pr...
CCI Procures 86 Lakh Bales as Private Traders Stay Caut...
Cotton Output Expected to Rise on Improved Yields in Ce...
Castor Seed Market Remains Steady Despite Supply Concer...
Indias Chickpea and Lentil Imports Surge as Duty-Free W...
Top 5 Special Reports
India's Rabi Sowing Sees Marginal Increase Amid Climate...
U.S. Delays Tariffs on Mexico and Canada, Easing Pressu...
Weekly: Sugar Futures End Week Higher Despite Dollar St...
Weekly: Cotton Prices Decline Amid Stronger Dollar and ...
USDA Weekly Export Sales: Cotton Sales Drop, Pima Deman...
Copyright © CC Commodity Info Services LLP. All rights reserved.