Gold (XAU/USD) prices rose for the third straight session on Thursday, after rising more than 27% in 2024, marking its best performance since 2010. The upward momentum was driven by US monetary easing, persistent geopolitical tensions, and record central bank buying.
However, non-interest-bearing gold may face some headwinds as the Federal Reserve (Fed) is expected to take a more cautious approach to further interest rate cuts in 2025, signaling a shift in its aggressive monetary policy stance.
The shift is driven by uncertainty surrounding potential policy changes under the Trump administration's upcoming economic plan.
Geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict are expected to continue to support gold, a traditional safe-haven asset, in the near term.
Additionally, a World Gold Council survey showed that major central banks are likely to increase gold purchases in 2025, further boosting demand for the precious metal.
Source: FXStreet
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