Spot Gold Rises This Morning, But Caution is Advised

Forex - The price of gold per ounce rose this morning, as investors are eagerly anticipating the Fed's outlook on interest rates and President-elect Donald Trump's tariff policies that could shape the metal's trajectory through 2025.

This morning, gold reached up to $2,628.23 per ounce and is currently trading at $2,623.85, reflecting a 0.32% increase since Friday.

Kelvin Wong, Senior Market Analyst at OANDA for the Asia Pacific region, noted that the dollar index has remained relatively flat, aiding gold to maintain its sideways movement.

Wong stated, “Geopolitical tensions have been a significant factor in gold’s rally this year and, with Trump's entry into the picture, will continue to be part of the narrative into 2025.”

Gold has gained 27% in value so far this year. However, it has traded in a flat pattern over the past week as it awaits the new year.

Wong added, “From a very short-term perspective, it is highly likely we will see such sluggish sideways price movements until the beginning of the new year.”

Calm trading activity for gold is expected as the year comes to a close.