Gold Hits Two-Week High

Forex - Gold reached its highest level in two weeks, influenced by safe-haven buying and a decline in US Treasury yields, as the market closed positions ahead of the Fed's interest rate outlook and President Trump's impending trade tariffs. StoneX analyst Rhona O'Connell stated, “I don’t see anything in the news that will move the market, but geopolitical forces (international tensions and financial uncertainties before President Trump takes office) are supportive.”

Gold futures climbed to $2,665.35 this morning and are currently trading at $2,661.52, with a 0.06% increase compared to yesterday.

Investors are looking forward to next week's US job openings data, the ADP employment report, the Fed's December FOMC minutes, and the US employment report to gauge the interest rate outlook for 2025. Forex.com market analyst Fawad Razaqzada noted, “The corrections or consolidations at the beginning of the year could lay the groundwork for a new rally. The resolution of 'Trump trade', characterized by a strong US dollar and robust stock markets, could weaken the dollar and support gold prices,” adding that a target of $3,000 per ounce for gold is feasible.