{"id":16257,"date":"2025-01-08T05:26:52","date_gmt":"2025-01-08T05:26:52","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=16257"},"modified":"2025-01-08T05:26:52","modified_gmt":"2025-01-08T05:26:52","slug":"gold-steady-as-strong-dollar-counters-china-buying","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-latam\/analysis\/gold-steady-as-strong-dollar-counters-china-buying\/","title":{"rendered":"Gold Steady as Strong Dollar Counters China Buying"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2026\/03\/download-7-1024x559.png\" alt=\"\" class=\"wp-image-16616\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Key Points<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Spot gold held at <strong>$2,650.62\/oz<\/strong>, while U.S. gold futures remained unchanged at <strong>$2,665<\/strong>.<\/li>\n\n\n\n<li>Strong U.S. economic data lifted the dollar and Treasury yields, capping gold\u2019s appeal.<\/li>\n\n\n\n<li>China added to its gold reserves for the second consecutive month, signalling continued demand from the top consumer.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>Gold prices remained steady on Wednesday, with <strong>spot gold trading at $2,650.62 per ounce<\/strong> after a 1% rise in the previous session. U.S. gold futures were also unchanged at <strong>$2,665<\/strong>, as competing forces of a stronger dollar and higher Treasury yields offset renewed demand from China.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2026\/03\/WhatsApp-Image-2025-01-08-at-09.57.27-1024x449.jpg\" alt=\"\" class=\"wp-image-16258\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: Gold consolidates near 2648, holding gains after testing 2664 resistance as momentum moderates, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" title=\"\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p>XAUUSD rose 0.47%, closing near 2648 after testing a high of 2664. The 15-minute chart shows moving averages (MA5, MA10, MA30) continuing to slope upward, indicating sustained bullish pressure. <\/p>\n\n\n\n<p>Gold\u2019s gains were supported by lingering concerns over global economic uncertainty and a slightly weaker US dollar. However, as key resistance near 2664 remains intact, traders appear cautious, awaiting more economic clarity from upcoming macroeconomic data and central bank updates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Dollar Strength and Rising Yields Weigh on Gold<\/h2>\n\n\n\n<p>The <strong>dollar index<\/strong> strengthened, while benchmark <strong>10-year Treasury yields<\/strong> hit an eight-month high, driven by better-than-expected U.S. data. <\/p>\n\n\n\n<p><strong>See also: <a href=\"https:\/\/www.vtmarkets.com\/analysis\/dollar-holds-fast-awaiting-key-fed-data\/\">Dollar Holds Fast Awaiting Key Fed Data<\/a><\/strong><\/p>\n\n\n\n<p>Job openings in November surged to <strong>8.098 million<\/strong>, well above the forecasted <strong>7.7 million<\/strong> and October&#8217;s <strong>7.839 million<\/strong>, reinforcing the view that the U.S. economy remains robust.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">US job openings inch higher as hiring, quitting rates drop amid broader labor slowdown <a href=\"https:\/\/t.co\/DCBWQZQUv8\">https:\/\/t.co\/DCBWQZQUv8<\/a> by <a href=\"https:\/\/twitter.com\/_JoshSchafer?ref_src=twsrc%5Etfw\">@_JoshSchafer<\/a> <a href=\"https:\/\/t.co\/zibKWKRc2a\">pic.twitter.com\/zibKWKRc2a<\/a><\/p>&mdash; Yahoo Finance (@YahooFinance) <a href=\"https:\/\/twitter.com\/YahooFinance\/status\/1876661567967637717?ref_src=twsrc%5Etfw\">January 7, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>This data has heightened expectations that the <strong><a href=\"https:\/\/t.co\/GqxOY9lkrl\" title=\"\">Federal Reserve<\/a><\/strong> may slow its pace of rate cuts in 2025. High yields and a strong dollar diminish gold&#8217;s appeal by increasing the opportunity cost of holding the non-yielding asset.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Fed Minutes and Jobs Report<\/h2>\n\n\n\n<p>Traders are now awaiting the <strong><a href=\"https:\/\/tradingeconomics.com\/united-states\/adp-employment-change\" title=\"\">ADP employment numbers<\/a><\/strong> and the <strong>minutes from the <a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/fomccalendars.htm\" title=\"\">Fed\u2019s <\/a>December meeting<\/strong>, due later today, for further insight into the central bank\u2019s policy direction. <\/p>\n\n\n\n<p>The highly anticipated <strong>U.S. jobs report on Friday<\/strong> could provide additional clues about the Fed\u2019s outlook on inflation and rates. Policymakers remain cautious, as implied by the Fed\u2019s December projections, which highlighted concerns about a resurgence in inflation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">China\u2019s Demand Adds a Bullish Element<\/h2>\n\n\n\n<p>Despite macroeconomic pressures, China&#8217;s gold demand remains a supportive factor for prices. Official data from the <strong><a href=\"https:\/\/t.co\/dkl60aUdLj\" title=\"People's Bank of China (PBOC)\">People&#8217;s Bank of China (PBOC)<\/a><\/strong> revealed that the country increased its gold reserves for a second consecutive month in December, signalling continued interest in diversifying reserves amid global uncertainty. <\/p>\n\n\n\n<p>China\u2019s sustained buying reflects the metal&#8217;s long-term appeal as a store of value, especially in an environment of geopolitical and economic volatility.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a>&nbsp;now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold steady at $2,650 as strong dollar and high yields offset China&#8217;s gold buying; markets eye Fed minutes and jobs data. &#8211; vtmarkets.com <\/p>\n","protected":false},"author":2,"featured_media":16616,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[44],"tags":[10],"class_list":["post-16257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-gold"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/posts\/16257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/comments?post=16257"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/posts\/16257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/media\/16616"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/media?parent=16257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/categories?post=16257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/tags?post=16257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}