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Indonesia News Portal for Traders | Financial & Business Updates

23 December 2024 07:55  |

Gold Edges Lower; Likely to Be Volatile Near Term

Gold prices are slightly lower in early Asian trade. Gold will likely be volatile in the short term amid expectations for fewer Fed rate cuts in 2025 and a stronger dollar, Sinolink Securities analyst Li Chao says in a research note.

India, a key gold consumer, expects a significant drop in imports in December, Exness markets strategist Terence Hove says in a note. However, "escalating tensions in Europe and Middle East could spur safe-haven assets' demand, lending some support to gold prices," Hove says.

Spot gold is 0.1% lower at $2,620.52/oz.

Source: Marketwatch

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