Update prices
settle gold In spot transactions at $2,625.48 per ounce by 0259 GMT, after hitting the lowest level since November 18 earlier in the session.
US gold futures rose 0.3 percent to $2,625.80, according to Reuters data.
Yesterday the price fell yellow metal By $93, or 3.4 percent, to about $2,617 per ounce for delivery this month, recording the largest daily decline since November 9, 2020, ending 5 days of steady rise.
“Despite yesterday’s extended sell-off, gold is holding up relatively well, which indicates some safe-haven demand,” City Index analyst Matt Simpson said.
“We may see more confusion in the future, especially with Trump back in the spotlight,” he added.
And he pledged Trump Assuming Customs duties Big on Canada And Mexico And Chinawhich increases the risk of trade wars.
Gold is considered a safe haven in times of economic and geopolitical uncertainty, such as trade wars and other conflicts.
Minneapolis Federal Reserve Bank President Neel Kashkari, who usually leans towards tightening monetary policy, said he was open to lowering interest rates. Interest Again next month.
According to the CME Group’s Fed Watch tool, markets currently see a 55.9 percent probability that the Federal Reserve will cut… Federal (Bank American Central Bank) Interest rates 25 basis points in December.
Traders are awaiting the release of US consumer confidence data and the minutes of the Federal Reserve’s November meeting later today, in addition to the first review of GDP and the core personal consumption expenditures index later in the week.
On the geopolitical level, four high-level Lebanese sources said yesterday, Monday, that US President Joe Biden and his French counterpart, Emmanuel Macron, are expected to announce a ceasefire in Lebanon between the Hezbollah group and Israel within 36 hours, according to Reuters.
As for other precious metals, silver settled in spot transactions at $30.29 per ounce, platinum fell 0.2 percent to $937.05, and palladium rose 0.3 percent to $975.65.
