Gold futures fell 0.4% to $2,642.20 in holiday-light trading
Here is the English translation:
Gold futures prices fell 0.4%, to $2,642.20 per ounce, but remained largely flat overall this week. During the holiday period, the trading range for gold was narrow.
Goldman Sachs analysts pointed out that the ongoing geopolitical tensions have supported the price of gold due to increased safe-haven demand. The uncertainty in the Middle East, the ongoing Russia-Ukraine war, and the tense US-China relations continue to be factors.
The more hawkish stance of the Federal Reserve has limited the potential upside for gold, and the market expects fewer rate hikes by the Fed in 2025. Higher interest rates typically reduce the appeal of non-yielding gold.
