The global gold price today, 24 December; Growth of 0.01% gold ounce
According toMehr News Agency to According to Reuters, the price of gold did not change much in Monday’s trading. The release of better-than-expected employment data in the United States confirmed the Federal Reserve’s cautious stance on interest rates, and uncertainty regarding the policies of the Trump administration has kept demand for this precious metal as a safe haven at a high level.
The price of gold per ounce increased by 0.01% to $2,690 and 16 cents today. The price of gold futures on the Comex market in New York has reached $2,715 and 50 cents with an increase of 0.02%.
The US employment market report on Friday supported the Federal Reserve’s cautious stance on interest rate cuts this year, while Trump’s promises to impose heavy tariffs on imports are likely to boost inflation.
Traders are now confident that the Federal Reserve will not change interest rates at this month’s meeting, and probably only one rate cut will happen in June.
Gold is always referred to as a safe support during high inflation. But the environment of high interest rate lowers the desire to buy this precious metal as a unprofitable capital.
Investors are waiting for the consumer price index in the US, which is supposed to be released this week. Several Federal Reserve officials will also give speeches.
Among other precious metals, silver was down 0.28 percent to $31.23 cents, and platinum was up 0.06 percent to $966.34 cents.
