Gold prices hit more than one-month highs on Thursday after data showed U.S. core inflation rose less than expected in December, raising hopes that the Federal Reserve could ease interest rates further. Expectations for more Fed rate cuts this year increased following the CPI data. Concerns linger about potential tariffs from President-elect Donald Trump's incoming administration that could further stoke inflation. On the geopolitical front, Hamas and Israel reached a deal for a ceasefire in Gaza that mediators said would take effect on Sunday and include a release of hostages held there during 15 months of bloodshed that devastated the Palestinian enclave and inflamed the Middle East.
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Original article source: https://www.dailymail.co.uk/wires/reuters/article-14290305/Gold-hits-1-month-peak-Fed-rate-cut-hopes.html
Source Id: 2025-01-603923800