World gold price around 2,600 USD

Without any new catalysts, the precious metal lost nearly $14 in the first session of the week, at one point falling to $2,595 an ounce.

At the end of the trading session on December 30, the world spot gold price decreased by nearly 14 USD to 2,606 USD per ounce. During the session, the price was at 2,595 USD.

Analysts said trading volume at the beginning of the week was thin, as investors waited for new catalysts, such as US economic data next week and President-elect Donald Trump's policies.

World gold prices fell in the session of December 30. Chart: Kitco

"I think the main reason is the reduced trading volume during the holiday season. Maybe some people want to take profits before the end of the year," said Peter Grant, vice president of Zaner Metals.

He expects political tensions to remain high next year, which will keep central banks buying gold. US debt is likely to worsen and deficits will increase during Trump’s term, which will boost demand for safe-haven gold.

This year, gold prices have increased by nearly 27%, reaching a record of 2,790 USD at the end of October. The main reasons are geopolitical instability and the US interest rate cut.

In 2025, the US is expected to change a series of major policies, from import taxes, management regulations to domestic income taxes. Mr. Trump took office on January 20.

Earlier this month, the chairman of the US Federal Reserve (Fed) signaled a more cautious approach to interest rate cuts. The agency has eased monetary policy three times this year, in line with market expectations.

Next week, the US will release a series of data including the employment report and the minutes of the December Fed meeting. These figures are closely followed by investors to assess the health of the US economy.

In addition to gold, other precious metals also lost value. Silver fell 1.3% to $28.9 an ounce. Platinum lost 1.5% to $905. Palladium fell 1% to close at $902.