Gold prices fell due to Fed's hawkish stance and strong dollar, impacting market negatively

From Investing.com: 2024-12-22 23:31:29

Gold prices continued to slide on Monday due to the Federal Reserve’s hawkish stance, with prices hitting a one-month low last week. The Fed’s projection of fewer interest rate cuts in 2025 led to a 1% drop in gold prices. The US dollar strengthened, putting pressure on gold as higher interest rates make holding gold less attractive. Meanwhile, other precious metals like silver and platinum saw gains. The dollar remained near a two-year high, impacting gold prices negatively. Copper prices rose slightly on Monday after falling last week, with markets awaiting China’s stimulus plans.



Read more at Investing.com: Gold prices slipped lower on strong dollar; Fed stance in focus By Investing.com