Gold prices flat as traders dodge risky investments

Gold bars

Gold prices held steady today, Dec. 17, as investors avoided risk-taking in a week full of central bank decisions for several major global economies such as the US, Japan and England.

February gold futures stabilized at $2,669.90 per ounce at 11:08 am Makkah time, after dipping 0.2% at the end of trading in the first session of the week. Likewise, spot prices held ground at $2,652.07 an ounce.

On the other hand, March silver futures fell 0.26% to $30.97 per ounce, with platinum spot prices also down 0.49% to $935.20 an ounce.

Investors are more likely to see the Federal Reserve cut interest rates by 25 basis points at its meeting this week, Jigar Trivedi, a senior analyst at Reliance Securities, told Reuters.

“However, the 2025 outlook, the Fed dot chart and (Fed Chair Jerome) Powell's statements will be key to gauge the US central bank's stance for the first half of next year,” Trivedi was quoted as saying.

He continued, “The yellow metal may witness a technical correction, but that would be an opportunity to go long.”

Investors are awaiting the release of the Fed’s monetary policy decision on Wednesday, a day before similar moves from the central banks of Japan, England, Sweden and Norway.