{"id":146195,"date":"2025-01-20T14:48:03","date_gmt":"2025-01-20T14:48:03","guid":{"rendered":"https:\/\/kinesis.money\/?p=146195"},"modified":"2025-01-20T14:48:05","modified_gmt":"2025-01-20T14:48:05","slug":"gold-holds-above-2700","status":"publish","type":"post","link":"https:\/\/kinesis.money\/zh-hans\/market-analysis\/gold-news\/gold-holds-above-2700\/","title":{"rendered":"Gold Price News: Gold Holds Above $2,700 Mark"},"content":{"rendered":"\n

Gold prices were marginally lower on Friday, but managed to hold onto most of Thursday\u2019s gains, leaving prices just shy of a 10-week high.<\/p>\n\n\n\n

Prices moved in a relatively narrow band of $2,703 to $2,721 an ounce on Friday, compared with around $2,715 an ounce in late trades on Thursday. The gains seen earlier in the week took gold prices to their highest since early November.<\/p>\n\n\n

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\"Gold
Gold (KAU) price – $\/g – on the Kinesis Pro exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Weaker US dollar supports gold<\/h2>\n\n\n\n

The US dollar weakened against other major currencies at the start of the week, supporting dollar-denominated gold prices as it makes the precious metal cheaper for buyers in other currencies.<\/p>\n\n\n\n

However, this was balanced against signs that a tentative ceasefire agreement between Israel and Hamas in Gaza could soon be formally approved. This was approved over the weekend and took effect on Sunday, bringing an end to 15 months of hostilities. The conflict has been one of two major flashpoints that heightened the geopolitical risk environment, driving increased interest in safe-haven assets like precious metals.<\/p>\n\n\n\n

Market positioning<\/h2>\n\n\n\n

Meanwhile, gold-backed ETFs saw net inflows of 6 tonnes in the week to January 10th<\/sup>, compared with net outflows of 3.2 tonnes the previous week, according to World Gold Council data: Gold ETF: Stock, Holdings and Flows<\/a>. Meanwhile, net long positions on the Comex increased to 865.5 tonnes in the week to January 14th<\/sup>, compared with 791.06 tonnes the previous week, the figures showed. This was still some way off their 2024 peak of 976 tonnes in the week to September 24th<\/sup>, 2024.<\/p>\n\n\n\n

Upcoming data and events<\/h2>\n\n\n\n

Looking ahead, Monday will attract plenty of attention as US President-elect Donald Trump is due to be inaugurated, with much focus on the new administration\u2019s trade policies and their effects on the economy and monetary policy. Beyond that, Tuesday will bring Euro Area economic sentiment figures for January, followed by Canadian inflation data for December.<\/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 marginally lower on Friday, but manage […]<\/p>\n","protected":false},"author":50,"featured_media":146302,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[215],"tags":[],"class_list":["post-146195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"acf":[],"yoast_head":"\nGold Price News: Gold Holds Above $2,700 Mark - Kinesis<\/title>\n<meta name=\"description\" content=\"Gold prices near a 10-week high amid a weaker USD. 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