Gold futures slip slightly amid low holiday trading volumes. Futures fall 0.1% to $2,626.10 a troy ounce.
Continued pessimism about the pace of U.S. interest-rate cuts in 2025 have prevented the precious metal from benefiting from weak economic data, XS.com’s Samer Hasn says in a note.
Higher rates for longer typically suppress investor demand for non-interest bearing gold. Weak activity in the futures market and from institutional investors ahead of the holiday season saw the precious metal try to gain ground earlier in the session, before reversing course.
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