Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    StockNews24StockNews24
    Subscribe
    • Shares
    • News
      • Featured Company
      • News Overview
        • Company news
        • Expert Columns
        • Germany
        • USA
        • Price movements
        • Default values
        • Small caps
        • Business
      • News Search
        • Stock News
        • CFD News
        • Foreign exchange news
        • ETF News
        • Money, Career & Lifestyle News
      • Index News
        • DAX News
        • MDAX News
        • TecDAX News
        • Dow Jones News
        • Eurostoxx News
        • NASDAQ News
        • ATX News
        • S&P 500 News
      • Other Topics
        • Private Finance News
        • Commodity News
        • Certificate News
        • Interest rate news
        • SMI News
        • Nikkei 225 News1
    • Carbon Markets
    • Raw materials
    • Funds
    • Bonds
    • Currency
    • Crypto
    • English
      • العربية
      • 简体中文
      • Nederlands
      • English
      • Français
      • Deutsch
      • Italiano
      • Português
      • Русский
      • Español
    StockNews24StockNews24
    Home » Gold prices steady with nonfarm payrolls in focus By Investing.com
    News

    Gold prices steady with nonfarm payrolls in focus By Investing.com

    userBy userJanuary 10, 2025No Comments3 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email



    Investing.com– Gold prices rose slightly in Asian trade on Friday and were headed for some weekly gains as heightened uncertainty over U.S. interest rates and trade tariffs fueled increased safe haven demand.

    But strength in the dollar, ahead of a key labor market report due later in the day, limited any major upside in gold, as did hawkish signals from the Federal Reserve. 

    rose 0.1% to $2,672.12 an ounce, while expiring in February rose 0.2% to $2,695.74 an ounce by 23:58 ET (04:58 GMT). 

    Gold heads for weekly gains as rate, trade jitters spur some haven demand

    Spot prices were trading up about 1.5% this week, as increased economic uncertainty spurred some safe haven demand for the yellow metal.

    Markets were on edge ahead of data for December, due later on Friday, which is likely to factor into the outlook for U.S. rates. 

    Payrolls data has consistently beaten expectations over the past year, amid continued resilience in the labor market. This trend gives the Fed more headroom to consider future rate cuts. 

    The minutes of the central bank’s December meeting showed this week that policymakers were cautious over cutting interest rates further, amid sticky inflation and signs of resilience in the labor market. 

    Fed officials were also seen expressing some concerns over inflationary pressures from protectionist and expansionary policies under President-elect Donald Trump. Uncertainty over his plans is expected to build ahead of his inauguration on January 20. 

    Other precious metals rose on Friday. rose 0.9% to $993.20 an ounce, while rose 0.5% to $31.160 an ounce by 00:12 ET (05:12 GMT). 

    Copper upbeat on China stimulus hopes 

    Among industrial metals, copper prices extended gains as weak economic readings from top importer China continued to spur bets that Beijing will substantially increase its stimulus efforts in 2025.

    Benchmark on the London Metal Exchange rose 0.5% to $9,123.50 a ton, while March rose 0.5% to $4.3355 a pound. 

    Weak Chinese inflation data released on Thursday sparked bets that Beijing will be pushed into unlocking more stimulus, especially fiscal measures aimed at shoring up private spending.

    The threat of increased U.S. trade tariffs is also expected to push Beijing into doling out more stimulus to protect the Chinese economy, which is already grappling with years of languid growth.

    China is the world’s biggest copper importer, and has been a major weight on copper prices amid concerns that demand in the country will slow due to economic strife.





    Source link

    Share this:

    • Click to share on Facebook (Opens in new window) Facebook
    • Click to share on X (Opens in new window) X

    Like this:

    Like Loading...

    Related

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleBank of America bonuses for investment bankers to rise about 10%, source says
    Next Article Suitable market conditions for carbon credit transactions
    user
    • Website

    Related Posts

    2 fallen FTSE 250 shares to consider buying before they bounce back

    June 8, 2025

    As the ‘Magnificent 7’ stall, here’s the next wave of high-growth Nasdaq tech stocks delivering big gains

    June 8, 2025

    1 FTSE 100 stock to watch this week

    June 8, 2025
    Add A Comment

    Leave a ReplyCancel reply

    © 2025 StockNews24. Designed by Sujon.

    Type above and press Enter to search. Press Esc to cancel.

    %d