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GOLD: Gold Rallies on Weaker US Data. 

GOLD
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  • Gold rallied in light holiday markets following weaker than expected US data.
  • The US reported the highest number of people with recurring applications for unemployment benefits in three years, adding to uncertainty as to the path for interest rates next year.
  • As an asset that does not pay interest, gold has reacted positively to the forecasts for interest rate cuts.
  • In thin trading over the holiday period, Gold opened at US$2,616.87 and edged higher throughout the session to US$2,633.58.
  • Gold has had a very strong year this year up over 25% for the year on the back of projected interest rate cuts.
  • The outlook for gold in 2025 became somewhat clouded when the Fed Reserve Chairman in the last meeting of the  year, indicated that the potential for interest rate cuts next year was likely less than what is currently priced in. 
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  • Gold rallied in light holiday markets following weaker than expected US data.
  • The US reported the highest number of people with recurring applications for unemployment benefits in three years, adding to uncertainty as to the path for interest rates next year.
  • As an asset that does not pay interest, gold has reacted positively to the forecasts for interest rate cuts.
  • In thin trading over the holiday period, Gold opened at US$2,616.87 and edged higher throughout the session to US$2,633.58.
  • Gold has had a very strong year this year up over 25% for the year on the back of projected interest rate cuts.
  • The outlook for gold in 2025 became somewhat clouded when the Fed Reserve Chairman in the last meeting of the  year, indicated that the potential for interest rate cuts next year was likely less than what is currently priced in.