A slight increase in gold prices

Gold prices rose slightly today, amid anticipation of the US inflation report, which may provide more clarity on the path of US interest rates.

By 0701 GMT, spot gold rose 0.1 percent to $2,681.34 per ounce, while US gold futures rose 0.5 percent to $2,696.10.

“If the CPI data comes in higher, it could lead to gold falling because that somewhat reinforces the view that the Federal Reserve is likely to go easy on policy,” said Kelvin Wong, chief market analyst for Asia-Pacific at OANDA. monetary policy adopted last year in 2025.

Traders are awaiting the data scheduled to be released at 1330 GMT, after last week’s jobs report confirmed the strength of the US economy and prompted traders to reduce bets on further interest rate cuts.

A Reuters poll expected the annual inflation rate to rise to 2.9 percent in December, compared to 2.7 percent in November, and an increase of 0.3 percent on a monthly basis.

Yesterday’s data showed that the producer price index in the United States rose less than expected in December, but this is unlikely to change the view that the Federal Reserve will not cut interest rates again before the second half of the year amid the strength of the labor market.

As President-elect Donald Trump begins his second term next week, the focus remains on his policies, which analysts expect will lead to increased inflation.

Gold, which does not generate a return, is a hedge against inflation, but high interest rates reduce its attractiveness.

“If gold prices fall further to break out of the November range below $2,600, the next key level will be around $2,540 and I think this could be an attractive level for long-term investors,” Wong said.

As for other precious metals, silver rose in spot transactions 0.1 percent to $29.92 per ounce, while palladium fell 0.4 percent to $935.25, and platinum fell 0.2 percent to $933.70.