Gold wavered as traders mulled the Federal Reserve’s outlook for interest rates. Bullion gained as much as 0.5% in US trading before paring some gains, while Treasury yields and the dollar declined.
Money managers are seeing plenty of reasons to remain bullish on gold, following a stellar 2024 that saw the precious metal post its biggest annual gain since 2010.
Gold surged above $2,200 an ounce for the first time as investors grew more confident about the Federal Reserve’s path for rate cuts, boosting the appeal of non-interest bearing bullion.
