Gold prices slightly rose on December 18, 2024, as investors kept a close watch on the U.S. Federal Reserve’s upcoming policy decisions regarding interest rates. Spot gold was up 0.3% at $2,041.71 per ounce, while U.S. gold futures climbed 0.4% to $2,057.30. The market’s focus is on the potential for a rate cut, with the Federal Reserve signaling a likelihood of easing monetary policy in the near future. Analysts remarked on this trend, stating, ‘Gold remains a safe haven asset that investors turn to when uncertainty prevails.’ The U.S. dollar’s fluctuations also impacted gold prices, with materials sliding on the strengthening dollar. The materials sector faced challenges, particularly influenced by the strong performance of the dollar, which has implications for commodities. Additionally, traders are weighing the expected rate cut as a key factor influencing gold’s trajectory moving forward, with market analysts urging investors to remain vigilant in light of the Fed’s decisions that could reshape the commodities landscape.
