inflation
Eurozone stagnation due to industrial recession leads ECB to continue its easing trajectory
Earlier in the session, gold prices hit an all-time high of $2,799.71
Fed signaled no rush in lowering borrowing costs until inflation and jobs data made it appropriate to begin another easing cycle
After cutting the benchmark interest rate a full percentage point last year, the Fed kept it in the current 4.25-4.50 percent range
The recovery in global markets failed to assist gold prices in rising over their Tuesday levels
China's net gold imports through Hong Kong fell 84 percent in December, dropping to their lowest since April 2022
The market is pricing in the possibility that the U.S. central bank will lower borrowing costs twice by the end of this year
The U.S. dollar index gained 0.28 percent to 107.74, making bullion less attractive for other currency holders
Markets are pricing in one more 25-basis-point interest rate hike for Japan by the end of this year
Non-hydrocarbon sectors thrive due to tourism, construction, public spending, and growth in financial services
The dollar lost over 1 percent this week, recording its worst weekly fall in two months
