Gold Set for Weekly Decline Amid Profit-Taking and Strong US Data
February 28, 2025 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas issues market commentary from Hani Abuagla Senior Market Analyst at XTB MENA.
Gold prices are on track for their first weekly loss in nearly two months as investors lock in profits following record highs. A strong US dollar, amid strong economic data, is increasing selling pressure on the bullion market. The US economy grew by 2.3% in Q4 2024, and order goods surged by 3.1%, fueling expectations of a hawkish Federal Reserve stance, which dampens the outlook for non-yielding short-term assets like gold.
The market could continue to see volatility as traders assess the impact of trade tensions. Recent developments, including the US's decision to maintain tariffs on Mexico and Canada and announce a new 25% tariff on European cars, could stoke inflationary pressures and economic growth risks, fueling volatility.
On the geopolitical front, peace talks to resolve the Ukraine-Russia conflict could weigh on gold's prices in case of a positive outcome as a risk-on sentiment could reduce the demand for gold. However, any setback could reignite gold's appeal.
Today's Personal Consumer Expenditure (PCE) numbers could play a pivotal role in shaping gold's trajectory. Strong numbers could reinforce the dollar's gains and weigh further on gold, while softer numbers may help limit losses.
About Investorideas.com - Big Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors.
Disclaimer/Disclosure: disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
Learn more about our news, PR and social media, podcast sponsorship and ticker tag services at Investorideas.com
https://www.investorideas.com/Investors/Services.asp
Learn more about digital advertising and guest posts
https://www.investorideas.com/Advertise/
Follow us on X @investorideas @stocknewsbites
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Sign up for free stock news alerts at Investorideas.com
https://www.investorideas.com/Resources/Newsletter.asp
Contact Investorideas.com
800 665 0411
