Is Gold Poised for a Comeback or Will US Data Weigh It Down?

• Gold trades near $2,630/oz as Israel and Hezbollah agree to a 60-day cease-fire.
• Haven demand softens following Middle East developments.

US Data in Focus

• Investors await key US economic reports, including:
  • Fed’s November meeting minutes
  • PCE inflation data (the Fed’s preferred measure)

Geopolitics and Policy Drive Gold Trends

• Despite a 3% dip on Monday, gold remains up 25% in 2024 due to easing monetary policy and global tensions.

Currency Pressure

• The dollar’s recent strength, bolstered by Trump’s tariff threats, weighs on gold this month.

Other Precious Metals

• Silver, platinum, and palladium remain steady alongside gold’s cautious moves.