Gold Edged Higher Amid Trade Uncertainty, Central Bank Decisions and Economic Data
January 30, 2025 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas releases market commentary from Konstantinos Chrysikos Head of Customer Relationship Management at Kudotrade.

Gold prices climbed today, reaching new highs, as trade tensions between the U.S., Mexico, and Canada continue to fuel uncertainty among investors. The market could react to new developments on this front with increased volatility.
At the same time, the Federal Reserve maintained interest rates unchanged although markets anticipate two rate cuts this year. As a result, US treasury yields declined to a certain extent, providing some support to the precious metal.
Weaker-than-expected U.S. GDP growth data could also support gold. Economic growth came in at 2.3% instead of the anticipated 2.6%, reinforcing expectations that the Fed could consider future rate cuts to support the economy although the job market remains resilient.
Elsewhere, the decisions of the Bank of Canada and the European Central Bank to continue cutting interest rates is contributing to a bullish outlook for gold prices.
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