Gold futures slipped as investors adjusted their positions ahead of the release of U.S. employment data, according to Jinshi Data. Friday's U.S. non-farm payrolls report is expected to reveal the direction of the Federal Reserve's monetary easing, especially the size and scope of future interest rate cuts.
BMI analysts pointed out that gold is the outstanding commodity in 2024. As gold prices gain support from the Federal Reserve's interest rate cuts and high geopolitical tensions, it is expected to demonstrate its resilience as a safe-haven asset in the first quarter of 2025.
BMI expects spot gold to trade between $2,500 and $2,800 an ounce in the coming months.