Gold price forecast December 17, 2024

١٧ ديسمبر

World gold prices increased slightly as the USD dropped. Recorded at 9:45 am on December 17, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 106,470 points (down 0.08%).

The gold market is cautious as investors prepare to receive the decision of the US Federal Reserve (FED), which is expected to reduce interest rates with a "hawkish" message after the monetary policy meeting. last of the year.

Although gold prices maintained a sideways trend ahead of Wednesday's decision, one analyst said the message from the Fed could lead to a larger correction in the precious metals market.

This medium-term upward trend is mainly driven by new economic policies, including deeper corporate tax cuts and increased tariffs on imports to the US. These policies could cause inflation to increase in 2025 and beyond.

Wong also highlighted that real yields on the 10-year note have rebounded sharply after testing the 1.9% support level last week. If it increases to 2.29%, the opportunity cost of holding gold will be higher, making gold less attractive to investors.