{"id":111920,"date":"2024-01-26T09:12:21","date_gmt":"2024-01-26T09:12:21","guid":{"rendered":"https:\/\/kinesis.money\/?p=111920"},"modified":"2024-01-26T09:12:25","modified_gmt":"2024-01-26T09:12:25","slug":"gold-higher-after-wednesday-drop","status":"publish","type":"post","link":"https:\/\/kinesis.money\/fr\/market-analysis\/gold-higher-after-wednesday-drop\/","title":{"rendered":"Gold Price News: Gold Edges Higher After Wednesday\u2019s Sharp Drop"},"content":{"rendered":"\n

Gold prices posted modest gains on Thursday, with the market consolidating after a volatile day on Wednesday which ultimately saw gold end in the red.<\/p>\n\n\n\n

Prices edged as high as $2,025 an ounce on Thursday, partly recouping Wednesday\u2019s sharp losses which saw the yellow metal fall as low as $2,012 an ounce.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The slight gains came after monthly US Durable Goods Orders showed little change in December, against expectations of a 1.1% increase, raising a question mark over the health of the US economy. Serving as a counterweight, the US GDP growth rate increased to 3.3% in Q4, far ahead of market expectations of 2%.<\/p>\n\n\n\n

Separately, the ECB held interest rates unchanged at 4.5% as widely expected Thursday, as the bank continues to try to bring inflation back down to 2%.<\/p>\n\n\n\n

However, looking at the longer-term charts, the most recent month has seen gold prices lose ground overall, as the market has come under pressure from declining expectations of an imminent cut in interest rates by the US Fed within the first quarter.<\/p>\n\n\n\n

Most recent figures have pointed to a stronger-than-expected US economy and this has led to expectations that the central bank could maintain a higher-for-longer stance on interest rates, weighing on non-yield-bearing assets like gold.<\/p>\n\n\n\n

For the time being, this factor has overruled any bullish impact from the current heightened geopolitical tensions stemming from Russia\u2019s invasion of Ukraine and war between the Israeli state and Hamas in Gaza, which has since widened to include exchanges of fire between western powers and Iran-backed Houthis in Yemen.<\/p>\n\n\n\n

Looking ahead, Friday will see the release of US Personal Income and Personal Spending figures for December, while Tuesday next week will see quarterly and year-on-year Euro Area GDP growth rates.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience 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<\/a>\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>
\nRead 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 posted modest gains on Thursday, with the market consolidating after a volatile day on Wednesday which ultimately saw gold end in the red.<\/p>\n

Prices edged as high as $2,025 an ounce on Thursday, partly recouping Wednesday\u2019s sharp losses which saw the yellow metal fall as low as $2,012 an ounce.<\/p>\n","protected":false},"author":50,"featured_media":111946,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[215,91],"tags":[],"class_list":["post-111920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Edges Higher After Wednesday\u2019s Sharp Drop | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Friday 26th of January 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta 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