According to Jinshi data reports, gold futures prices fell by 0.4% to $2642.20 per troy ounce, but overall, they remained stable this week. During the holiday, the trading range for gold was narrow.
Goldman Sachs analysts pointed out that ongoing geopolitical tensions have driven safe-haven demand, supporting gold prices. The situation in the Middle East remains uncertain, the Russia-Ukraine war continues, and U.S.-China relations are tense.
The Federal Reserve's stance has become more hawkish, limiting the potential upside for gold, with markets expecting fewer rate cuts from the Fed in 2025. Higher interest rates typically diminish the appeal of non-yielding gold.
