Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Policy changes will be just one of the key factors for gold next year, says the World Gold Council.
Gold steady at $2,716 as Fed signals rate cuts; silver outperforms, climbing to $32.15 with safe-haven demand and industrial support.
Hang Seng Index climbs as Fed rate cut hopes drive tech stocks; real estate lags amid China stimulus anticipation.
Gold edged higher in the early Asian session, supported by ongoing prospects of a Fed rate cut next week.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
The gold market continues to see a lot of strength overall, as the early selling pressure on Wednesday has been abated. At this point, the market remains very much a market that offers the occasional buying opportunity on dips going forward.
The path of the Federal Reserve, not the dollar, is the key factor that will drive gold higher in 2025, the broker said.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Bullish momentum rests on $2,693 support. Inflation data and Fed signals may drive a breakout toward $2,721 resistance or spark a pullback to $2,670.
Goldman Sachs analysts said the rally in gold prices could continue into 2025, even if the value of the dollar continues to rise as expected