World gold prices slightly decreased as the USD increasedHowever, the precious metal is under some pressure as the dollar index rose sharply and US Treasury yields rose slightly.
The Conference Board reported on Monday that its US consumer confidence index fell to 104.7, down from a revised 112.8 in November. The reading was weaker than expected, with economists predicting the index would be largely unchanged.
“Expectations that consumer confidence would continue to recover were not realized in December, as the index fell back to its two-year average,” said Dana Peterson, chief economist at the Conference Board.
Gold is struggling to find its way amid the holiday lull, said James Hyerczyk, an analyst at FX Empire.
“The Federal Reserve’s hawkish stance and forecast of fewer rate cuts in 2025 are keeping gold under pressure. The precious metal will face key support tests during the holiday week
