Gold nudges higher, market awaits US data for economic cues
Live Mint* Bullion rose over 27% in 2024 * Gold likely to remain bullish in 2025 - analyst * Traders expect Fed to proceed cautiously with rate cuts in 2025 By Daksh Grover Jan 2 - Gold prices inched higher on Thursday, continuing its momentum from 2024, while traders sought more clarity on the U.S. Federal Reserve's interest rate trajectory and President-elect Donald Trump's policies. Bullion surged over 27% in 2024, its largest annual gain since 2010, driven by Fed's substantial rate cuts and escalating geopolitical tensions. Gold is likely to remain bullish, driven by geopolitical risks and expectations of rising government debt due to a deep fiscal deficit under Trump’s administration, despite potential challenges from slower Fed rate cuts and U.S. dollar strength, Rodda said. The market now awaits a fresh set of catalysts, including a slew of U.S. economic data due next week that could influence the interest rate outlook for 2025, and Trump's tariff policies.