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2025-12-15 15:15:58
[Gold Prices Rise to Seven-Week High, Market Focuses on US Employment Data] ⑴ Gold prices rose to near a seven-week high in early European trading on Monday, approaching $4,350 per ounce. ⑵ The precious metal continued its upward trend, mainly driven by market expectations of a Federal Reserve rate cut next year. Lower interest rates may reduce the opportunity cost of holding gold, thus supporting the non-interest-bearing asset. ⑶ In addition, uncertainty and risk aversion may boost safe-haven inflows into gold, which is beneficial to gold prices. ⑷ Nevertheless, hawkish comments from Federal Reserve officials last week may boost the dollar and put pressure on dollar-denominated gold prices. ⑸ Traders will look for further clues from speeches by Federal Reserve Governor Stephen Milan and New York Fed President John Williams later on Monday. ⑹ Tuesday's market focus will be on the US October and November employment reports, including non-farm payrolls, average hourly earnings, and the unemployment rate. ⑺ These reports may provide a clearer picture of the health of the labor market and may influence market expectations for the Fed's January meeting.
