Gold prices plunged and are on track for a weekly decline amid light holiday trading.
Gold was trading at $2,615 an ounce in the US Central session, and is set to end the week lower. The precious metal has been declining against stronger US Treasury yields, with the market looking to 2025 for fresh catalysts.
Market pessimism around the prospect of a significant US interest rate cut in the new year has continued to weigh on gold prices in late December, reflecting hawkish Federal Reserve comments and the inflationary nature of many of President-elect Donald Trump's proposed policies. Higher interest rates for longer periods typically dampen the appeal of non-interest-bearing bullion.
Source : Newsmaker.id
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