Gold extends gains after US inflation data eases rate cut worries
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Gold extends gains after US inflation data eases rate cut worries

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* Fed policymakers say easing will resume in 2025 but after pause * Trump's initial decrees could be bullish for gold, says analyst * Gold speculators cut net long position By Rahul Paswan Dec 23 - Gold extended gains on Monday after a softer-than-expected U.S. inflation reading revived hopes for further monetary policy easing by the Federal Reserve in the coming year. Spot gold gained 0.4% to $2,631.89 per ounce by 0734 GMT, rising for a third straight session after bullion prices hit their lowest since Nov. 18 on Wednesday on a hawkish Fed. San Francisco Fed President Mary Daly and two other Fed policymakers said they felt the central bank would likely resume easing next year but signalled they would take their time given that the "recalibration phase" was over. Meanwhile, COMEX gold speculators cut net long positions by 16,251 contracts to 203,937 in the week to Dec. 17, data showed.

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