Gold prices edged higher in Asian trading as investors anticipated policy insights from U.S. President-elect Donald Trump’s inauguration speech. Spot Gold gained 0.3% to $2,709.3 per ounce, while February Gold Futures rose 0.1% to $2,750.01 an ounce by 01:13 ET.
Market sentiment remains cautious, with traders bracing for volatility as Trump’s second term begins. Gold, a safe-haven asset, has stabilized near a one-month peak, supported by subdued U.S. inflation data that raises expectations of Federal Reserve rate cuts.
A weaker U.S. Dollar Index, down 0.3% in Asian hours, has further bolstered gold prices by making the metal more affordable for foreign buyers. Additionally, easing inflation has fueled speculation about a more accommodative monetary policy, which traditionally supports gold.
However, geopolitical developments, including a ceasefire agreement between Israel and Hamas, have tempered safe-haven demand. Analysts suggest that Trump’s policy direction could influence the dollar’s strength and, consequently, gold’s trajectory. A stronger dollar might pressure gold, while a weaker one could lift prices.
Other precious metals showed mixed performance. Platinum Futures remained unchanged at $965.25 an ounce, while Silver Futures rose 0.4% to $31.25 an ounce.
Copper prices saw marginal declines, with Benchmark Copper Futures on the London Metal Exchange down 0.3% to $9,166.00 a ton. February Copper Futures also slipped 0.3% to $4.341 a pound. Concerns over potential U.S. tariffs and dollar strength weighed on copper, offsetting support from China’s increased imports and declining inventories.
Investors remain vigilant, closely monitoring Trump’s moves and broader market dynamics to assess their impact on commodity prices.


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