iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Gold Prices Set for Weekly Gain

10 Jan 2025 , 09:29 AM

While investors awaited U.S. jobs data to see how aggressively the Federal Reserve may cut interest rates this year, gold prices held steady on Friday during early Asian hours, setting up for their strongest week since mid-November.

Spot gold remained steady at $2,670.16 per ounce. This week, the price of gold has increased by almost 1%.  At $2,694.50, gold futures increased by 0.1%.

The important government payrolls report, which is set to be released at 8:30 a.m. ET, will be eagerly watched by investors. A Reuters survey predicts that non-farm payrolls will have grown by 160,000 jobs in December after increasing by 227,000 in November.

As investors considered the potential effects of U.S. President-elect Donald Trump’s policies on inflation and the economy, the bullion surged to a nearly four-week high during the previous session.

Trump is predicted to increase inflation with his projected protectionist policies and tariffs when he returns to office on January 20.

As the U.S. central bank enters the new year dealing with a robust economy and inflation that is still above its 2% objective, Kansas City Federal Reserve President Jeff Schmid indicated on Thursday that he would be reluctant to lower interest rates once more.

Although increased interest rates make owning non-yielding gold less alluring, bullion is used as a hedge against inflation.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Federal reserve
  • gold
  • inflation
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.