Gold opened the New Year steady after notching its biggest annual gain since 2010, with traders assessing prospects for a slower pace of monetary easing by the Federal Reserve in 2025.
Bullion was trading near $2,625 an ounce following its 27% gain in 2024, which was driven by the Fed's cutting cycle, sustained haven demand and a wave of purchases by central banks.
Investors are now focused on the interest-rate path in the US, after Chair Jerome Powell last month signaled greater caution over how quickly the central bank can continue reducing borrowing costs amid renewed concerns about inflation. Lower rates are typically positive for bullion, which doesn't pay interest.
Key economic data due later this week, including US jobless claims and manufacturing reports, will be closely watched for clues on the Fed's easing trajectory.
Spot gold was little changed at $2,625.42 an ounce at 8:11 a.m. in Singapore. The Bloomberg Dollar Spot Index was flat. Silver, palladium and platinum all rose.
Source : Bloomberg
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