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January 8, 2025

Gold Price Stabilizes Around 2650 as Traders Await FOMC Minutes

Gold price XAU/USD shows signs of stabilization following the previous dayโ€™s late pullback from the 2665 hurdle. Traders seem to favor a cautious approach as they wait for the FOMC minutes scheduled for later during the US session. As the market anticipates these minutes, the prospects for slower rate cuts by the Federal Reserve continue to impact US Treasury bond yields. This scenario creates headwinds for gold, which does not yield. Market participants are clearly analyzing how these factors will potentially affect gold’s price movements in the near future.

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