Gold Daily | Gold Prices Rise with Record Annual Gains Amid Central Bank Buys and Geopolitical Tensions

【Latest Gold Price and Recent Trends】

On December 31, gold prices continued to rise, marking a record annual performance due to strong central bank purchases, geopolitical tensions, and global monetary easing. Spot gold rose 0.3% to $2,614.23 per ounce.

【Technical Analysis】

Gold is currently experiencing a bearish trend, testing the $2,600 per ounce level. A break below this could lead to a further decline towards the $2,555 target. Resistance is seen at $2,620.

【Market Sentiment and Economic Background】

The market is poised for potential catalysts including upcoming U.S. economic data which could influence the Federal Reserve's 2025 rate outlook and President-elect Donald Trump’s trade policies. The Fed has indicated fewer rate cuts for 2025, and other central banks remain cautious. Despite high U.S. interest rates, geopolitical risks and ongoing central bank demand could support gold, counteracting the strengthening dollar and slower Fed easing.

【Analyst Opinions】

Analysts highlight that U.S. interest rate expectations and Trump’s trade policies will be key drivers for gold prices in 2025. While the Fed has reduced its rate cut projections, continued geopolitical tensions and central bank purchases are expected to support gold. Analysts anticipate U.S. policy shifts under Trump will affect inflation, Fed rate paths, and ultimately gold prices.