Gold drifted lower to around $2,650 per ounce on Thursday, halting two days of gains as investors continued to assess the Fed's policy outlook ahead of key jobs data. The latest FOMC minutes indicated inflation is likely to slow this year, but policymakers noted the risk of persistent price pressures, partly due to Trump's policies. The central bank also signaled that it may be nearing a point to slow the pace of policy easing, reducing the appeal of the non-yielding metal. Meanwhile, gold found support after a weaker-than-expected private employment report for December, reinforced the notion that the Fed may need to adopt a less cautious approach to rate cuts. Elsewhere, physically-backed gold ETFs saw their first inflow in four years, led by Asia, with North American funds recording their first positive annual flow since 2020 and European outflows narrowing compared to 2023, according to the World Gold Council.(cay) Newsmaker23
Source: Trading Economi
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