After U.S. economic data showed a slowdown in inflation, the U.S. dollar and Treasury yields softened, leading to a rise in gold prices on Friday, December 20. However, due to the Federal Reserve's indication on Wednesday that it would significantly slow down interest rate cuts next year, gold prices still fell this week.

Spot gold rose 1.2% to $2,624.15 per ounce, while February gold futures increased 1.4% to $2,645.10 per ounce.

Gold Prices Rise Amid Inflation Slowdown, but Fed's Rate Cut Outlook Weighs on Market

Dec 23 2024