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2025-12-12 16:02:32
[Gold Prices Hit Near-Month High in Early European Trading as Fundamental Support Continues] ⑴ Gold attracted bargain hunting in the $4265-$4264 area in early European trading on Friday, hitting a new high since October 21. ⑵ The broader fundamental backdrop suggests that commodities remain skewed to the upside. ⑶ Market expectations that the Federal Reserve will further lower borrowing costs in 2026 have kept the dollar weak, near two-month lows reached on Thursday, providing continued support for non-yielding gold. ⑷ In addition, the stalled negotiations on a Russia-Ukraine peace agreement have perpetuated geopolitical risks, becoming another factor driving safe-haven gold higher for the fourth consecutive day. ⑸ However, the overall positive tone in the stock market may dampen aggressive bets by gold bulls and limit its further upside potential. ⑹ Nevertheless, gold is still on track for a strong weekly gain. Traders are currently focused on speeches by influential members of the Federal Open Market Committee for short-term trading opportunities.
