Gold futures are down slightly due to low holiday trading volumes. Futures fell 0.1% to $2,626.10 per troy ounce.
Persistent pessimism about the pace of US interest rate cuts through 2025 has prevented the precious metal from benefiting from weak economic data, XS.com’s Samer Hasn said in a note.
Higher interest rates for longer periods of time tend to suppress investor demand for non-interest-bearing gold. Weak activity in the futures market and among institutional investors ahead of the holidays saw the precious metal try to gain ground earlier in the session before reversing course.
