Gold prices remained stable in subdued post-holiday trading, as mixed US jobless claims data failed to significantly alter market expectations for Federal Reserve interest rate cuts. Bullion hovered near $2,633 an ounce, following a 0.6% rise on Thursday. The uptick was supported by a report showing recurring US unemployment benefit applications at their highest in over three years, signaling a slower job market recovery. However, initial claims saw a slight decline. Fed Chair Jerome Powell, speaking after the central bank’s final 2024 policy meeting, noted that the labor market is cooling without raising concerns. The Fed scaled back its projected rate cuts for 2025, emphasizing the need for further inflation easing. Lower interest rates typically benefit gold, as the non-yielding asset becomes more attractive. Gold has rallied this year, hitting successive records and poised to close 2024 nearly 28% higher. The surge has been driven by US monetary easing, safe-haven demand, and central bank purchases. However, the rally has recently slowed amid dollar strength following Donald Trump’s election. Spot gold was flat at $2,633.17 an ounce in early Singapore trading, while the Bloomberg Dollar Spot Index showed little movement. Silver held steady, while palladium and platinum edged higher. #Gold #FederalReserve #XAUUSD