Gold reduced its losses incurred this Monday, January 20, 2025, as investors await the inauguration of US President-elect Donald Trump, who could shed light on the policies of his next administration, by providing more indications on the direction of the monetary policy of the Federal Reserve (Fed).
Gold prices in spot trading fell 0.1% to $2,697.60 an ounce, after falling 0.5% earlier in Monday’s session. U.S. gold futures also fell 0.3% to $2,740.10 an ounce.
Tim Waterer, chief market analyst at KCM Trade, said: “Gold was under selling pressure today, but its status as a traditional safe asset should limit the immediate decline,” according to Reuters.
He added: “If we hear a more conciliatory or flexible tone from President Trump regarding trade and tariff policies, that could ease inflationary fears, which could lead to a decline in the U.S. dollar and bond yields. Treasure. Gold could be one of the assets. who will benefit from this scenario.
Markets are awaiting Trump’s inauguration later today, with his tariff policies expected to fuel inflation and spark trade wars, which could increase the appeal of safe-haven assets.
-As for other precious metals, silver fell in spot trading by 0.6% to $30.16 an ounce, while palladium stabilized at $947.99 an ounce and platinum fell 0.2% to $940.84 an ounce.
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