The global gold price today, 4 December; Growth of 0.17 percent
According to Mehr News Agency to According to Reuters, the price of gold increased on Tuesday as investors are waiting for easier monetary policies from the US Federal Reserve next year.
The price of gold per ounce increased by 0.17% to $2,616 and 88 cents today. The price of gold futures in the Comex market of New York has reached $2,630 and 80 cents with an increase of 0.10%.
Investors are currently focused on how fast and by how much the Federal Reserve will cut interest rates in 2025. The US Federal Reserve lowered interest rates once again in December, but announced fewer cuts next year.
High interest rates reduce the desire to buy gold as a non-profitable investment. While a mild increase in U.S. inflation on Friday eased concerns about the pace of interest rate cuts next year, markets expect interest rates to drop by just 35 basis points in 2025. Markets are also focused on Donald Trump’s policy on trade tariffs and the reaction of America’s trading partners.
Analysts believe that tariffs are one of America’s negotiating tactics, and the country’s trading partners are likely to respond with other forms of sanctions against American products, causing instability in the market and increasing demand for gold as a safe haven.
Gold has experienced new records several times this year and has increased in price by 27% since the beginning of 2024. This is the best performance of gold since 2010, which is influenced by high purchases by central banks, geopolitical tensions and the easing of monetary policies by the world’s major central banks.
Among other precious metals, silver rose 0.27 percent to $30.27 cents, and platinum traded up 0.05 percent to $942.23 cents.
