Gold remained steady near $2630 per ounce on Tuesday, after two sessions of declines, reflecting little movement in the past week but still set for a 27% annual gain, its best performance since 2010. Market focus is on the US economy, Trump's tariff policies, and the Fed's outlook, all of which could impact gold's trajectory. The US dollar held firm around 107.7, poised for strong 2024 gains, following hawkish Fed signals. Despite a stronger dollar and fewer rate cuts expected from the Fed, gold has been buoyed by geopolitical tensions and central bank demand, especially from the PBoC. Gold prices peaked at $2801 in October and are closing the year with impressive gains. On MCX, February gold futures rose by ₹245, trading at ₹76,505 per 10 grams.
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