Analyst: Gold is expected to fluctuate narrowly between 2620 and 2660 during the holiday period

The gold futures price experienced a slight pump on December 24th, regaining some lost ground, but remained at a relatively low level for the week. Futures prices pumped by 0.2% to $2632.50 per troy ounce. Pepperstone analyst Ahmed Asiri stated in a report that due to the weakening market expectations for more than two interest rate cuts in the United States in 2025, the price of this precious metal fell by 1.1% this week. Asiri pointed out that this reflected the Federal Reserve’s decision to cut interest rates by 25 basis points in mid-December, and given the resurgence of concerns about inflation, the Fed has adopted a more cautious stance on monetary policy in the future. Generally, higher interest rates will weaken the attractiveness of interest-free gold. Asiri added that due to the seasonal decline in volume during the holiday period, the price of gold is expected to fluctuate within a narrow range of $2620 to $2660 during the holiday period.