World gold price today

In the international market, at 6:00 a.m. on January 24, the world spot gold price was $2,753/ounce, down $7 from the highest price in the overnight trading session of $2,760/ounce. However, the gold price later rose to a new high, around $2,770/ounce, up nearly 20/ounce compared to today.

According to Jim Wyckoff, senior analyst at Kitco Metals, recent better economic data from the US suggests that the Fed may have to delay cutting interest rates longer and the higher interest rate environment increases the opportunity cost of holding Lis gold.

This expert commented that in the US stock market, stock investors are trading very strongly, so gold is less interested.

Another factor that investors are paying attention to is that President Trump announced that he would impose tariffs on goods from the European Union and is considering applying a 10% tax on Chinese imports from February 1.

However, if these policies are considered to be inflationary, causing the Fed to maintain high interest rates for a long time, the attractiveness of gold as an inflation hedge may decrease.