GOLD GLOWS ABOVE $2630 AS 2024 WRAPS UP

Published on Dec 30, 2024 13:17

Gold hovered above $2630 per ounce in Monday�s electronic trades, buoyed by safe-haven demand and cautious market sentiment. Investors are eyeing the Fed�s monetary policy outlook and President-elect Trump�s tariff and tax reform plans. A stable US dollar index near 108, supported by rising Treasury yields, added intrigue, while recent soft inflation data has kept hopes alive for further Fed easing�a potential boost for gold. With a stellar 30% gain this year, gold is on track for its best performance since 2010, driven by geopolitical risks like the Russia-Ukraine conflict, Middle East tensions, and strong central bank buying. On the MCX, February gold futures edged slightly lower to ₹76,500 per 10 grams.