Vicky McKeever writes:
Gold prices were muted on Friday morning, softening after a strong start to the year this week.
The spot price fell slightly, down 0.2% to $2,652.31 per ounce, while gold futures were flat at $2,666.90 per ounce.
The precious metal had a solid start to 2025 this week, with investors gearing up for president-elect Donald Trump’s return to the White House later this month.
Investors tend to look towards safe-haven investments, such as gold, in times of geopolitical and economic uncertainty.
According to Reuters, Tim Waterer, chief market analyst at KCM Trade, said: “We have seen an uptick in safe-haven flows, which has been to the benefit of gold.
“Any pullback in the US dollar could prove to be a catalyst for gold to break out higher.”