PT Rifan Financindo Berjangka – Gold Edges Higher on Promising Outlook
Gold edges higher in early Asian trade on a promising demand outlook. Several fundamental factors, such as ongoing geopolitical uncertainties, expectations of continued central bank purchases, and the metal’s traditional role as a safe-haven asset, should support the precious metal’s prices, Tickmill analyst Joseph Dahrieh says in a research note.
“While potential headwinds such as dollar strength and the pace of interest rate adjustments may present challenges, the overall market sentiment suggests sustained support for gold prices,” the analyst says. Investors tend to diversify their portfolios amid various economic and political risks, he adds.
Spot gold is 0.1% higher at $2,660.90/oz.
Source : Dow Jones Newswires
Gold Poised for Weekly Gain as Risk-Off Mood Drives Haven Demand
Gold was on track for its biggest weekly gain since November, as broad risk-off sentiment buoyed demand for haven assets.
Bullion was trading near $2,660 an ounce after climbing 1.3% on Thursday, with investors monitoring increasing concerns over near-term volatility in stock markets. The Cboe’s VIX Index climbed for the fourth time in five days, helping to underscore the appeal of safe assets such as gold.
Meanwhile, a pair of deadly attacks in the US this week further compounded market angst, sparking domestic security concerns ahead of Donald Trump’s official return to the White House later this month.
The precious metal gained 27% last year — its best since 2010 — largely fueled by the Federal Reserve’s cutting cycle, sustained geopolitical risks and a wave of purchases by central banks. The World Gold Council expects prices will rise more slowly in 2025, tempered by variables such as growth and inflation.
Key economic data due later Friday — including US jobless claims and manufacturing reports — will be closely watched for clues on the Fed’s easing trajectory. Lower rates are typically positive for bullion, which doesn’t pay interest.
Spot gold was up 0.1% to $2,659.87 an ounce at 8:49 a.m. in Singapore, on track for a weekly gain of 1.5%. The Bloomberg Dollar Spot Index was down 0.1%. Silver was flat, while palladium and platinum edged up. PT Rifan Financindo Berjangka.
Source : Bloomberg