Gold prices decline for second straight session

30/12/2024 Argaam
Gold bars

Gold bars

Gold prices declined for the second straight session amid a rise in the US dollar.

 

However, the precious metal is set to end the year with gain of more than 20%.

 

Gold futures for February delivery dropped 0.5%, or $13.8, to $2,618.10 per ounce.

 

The dollar index – which measures the greenback against a basket of six major currencies – fell 0.1% to 108.08 points at 10:27 pm Makkah time.

 

Expectations for major shifts in the US policy in 2025 have grown, including potential tariffs, deregulation, and tax changes, as President-elect Donald Trump prepares to take office next January.

 

This prompted Federal Reserve Chairman Jerome Powell earlier this month to adopt a cautious stance against further interest rate cuts.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.