GOLD quiet in the early morning trading session this morning

World gold prices on December 21 turned down with spot gold down 10 USD to 2,030.2 USD/ounce. Gold futures last traded at 2,043.3 USD/ounce, down 8.8 USD compared to yesterday morning.

The world gold market was quiet in the early morning trading session this morning as traders waited for a series of economic data at the end of the week to get new clues about the US Central Bank's monetary policy roadmap.

The gold price trend is forecast to stabilize above 2,000 USD/ounce and mainly trade at higher levels considering geopolitical risks in the market, including the US election next year, which This could prompt money managers to increase gold in their portfolios.

In the near term, gold could trade in a range of $1,950 to $2,150 per ounce, and the precious metal's price movements are driven by macroeconomic data and correlated expectations of a cut. Upcoming US interest rates as well as unexpected geopolitical risks.

According to the bank, 2024 could be a positive year for gold amid the macroeconomic outlook as well as significant geopolitical and recessionary risks weighing on the global economy.