{"id":143021,"date":"2024-12-09T12:20:03","date_gmt":"2024-12-09T12:20:03","guid":{"rendered":"https:\/\/kinesis.money\/?p=143021"},"modified":"2024-12-09T12:20:11","modified_gmt":"2024-12-09T12:20:11","slug":"gold-higher-range-bound","status":"publish","type":"post","link":"https:\/\/kinesis.money\/es\/market-analysis\/gold-news\/gold-higher-range-bound\/","title":{"rendered":"Gold Price News: Gold Ticks Higher in Range Bound Trading"},"content":{"rendered":"\n

Gold prices were fractionally higher on Friday but were otherwise range bound in what proved to be a rather flat week for the yellow metal.<\/p>\n\n\n\n

Prices moved in a range of $2,614 to $2,647 an ounce on Friday, compared with $2,634 an ounce in late deals on Thursday. The modest uptick on Friday capped a lacklustre week for gold, with prices struggling to break out of a narrow band of between $2,600 and $2,660 an ounce.<\/p>\n\n\n

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Gold KAU\/USD \u2013 1hr view \u2013 Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Opposing forces in balance<\/h2>\n\n\n\n

Gold prices have to some extent been caught between two opposing forces in recent days.<\/p>\n\n\n\n

On the one hand, the markets are pricing in an increasing probability of a further interest rate cut by the US Fed this month, which other things being equal, is a positive driver for gold prices. Data from interest rate traders indicates an 85% chance of a 25-basis-point cut on December 18th<\/sup>, compared with around 78% just a few days ago, according to data from the CME FedWatch tool: CME FedWatch – CME Group<\/a>.<\/p>\n\n\n\n

Interest in ETFs fades<\/h2>\n\n\n\n

On the other hand, other figures show that investment into gold ETFs has looked less resilient in November, contrasting sharply with strong net inflows in October. The week to November 29th<\/sup> showed only 4.5 tonnes of net inflows in total, following a previous week of only 3.2 tonnes of net inflows, and net outflows of 23.6 tonnes in the week to November 15th<\/sup>, according to World Gold Council data: Gold ETF: Stock, Holdings and Flows | World Gold Council<\/a>. That compared with the week ending October 18th<\/sup> which saw net inflows of 23.9 tonnes.<\/p>\n\n\n\n

The investment data suggest the markets are much less convinced that gold prices have further upside potential, and certainly reflect doubts that the pace of gains seen earlier in 2024 can be sustained indefinitely.<\/p>\n\n\n\n

In addition, the markets are worried that the US economy under the incoming Trump administration will be characterised by increased trade tariffs and other inflationary policies that could stymie the chances of further interest rate cuts emerging in 2025 \u2013 a bearish element for non-yield-bearing precious metals.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices were fractionally higher on Friday but were otherwise range bound in what proved to be a rather flat week for the yellow metal. Prices moved in a range of $2,614 to $2,647 an ounce on Friday, compared with $2,634 an ounce in late deals on Thursday. The modest uptick on Friday capped a […]<\/p>\n","protected":false},"author":50,"featured_media":143176,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215],"tags":[],"class_list":["post-143021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"acf":[],"yoast_head":"\nGold Price News: Gold Ticks Higher in Range Bound Trading - Kinesis<\/title>\n<meta name=\"description\" content=\"Explore the recent range-bound movement in gold prices. 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