Gold Prices Rise This Morning, But Calm Trend Anticipated

In the forex market, the price of gold per ounce rose this morning, as investors eagerly anticipate the Fed's interest rate outlook and the customs duty policies of President-elect Donald Trump, which could shape the metal's trajectory in 2025. The price of gold per ounce climbed to $2,628.23 this morning and is currently at $2,623.85, reflecting a 0.32% increase compared to Friday.

Kelvin Wong, OANDA's senior market analyst for the Asia Pacific region, noted that the dollar index has remained relatively flat, helping sustain gold's sideways movement. Wong stated, "Geopolitical tensions have been a significant factor in gold's rise this year, and especially with Trump's entry into the picture, this narrative will continue to be relevant in 2025."

Gold has gained 27% in value so far this year. However, it has exhibited a sideways trend over the past week as it awaits the new year. Wong commented, "From a very short-term perspective, it is highly likely that we will see such sluggish sideways price movements until the beginning of the new year." At the year-end, trading activity in gold is expected to remain calm.