Gold prices rose on Thursday, driven by safe-haven demand amid light trading volumes following the Christmas holiday, as markets await signals regarding the U.S. economy under the incoming Trump administration and Federal Reserve's rate strategy for 2025.

A stronger dollar often weighs on gold prices as it makes the yellow metal more expensive for buyers using other currencies. Gold prices fell sharply last week after the Fed policy meeting indicated that rates will remain higher for a longer period.

Gold prices edged lower in subdued holiday-season trading on Monday, weighed down by a robust dollar and high U.S. Treasury yields as investors awaited clearer signals on the Federal Reserve's monetary policy for 2025.

Gold prices inched higher in Asian markets Tuesday, with spot gold gaining 0.2 percent, while futures added 0.1%. The precious metals upward movement was limited as the Federal Reserves hawkish policy reinforced

Gold prices steadied in holiday-thinned trade on Tuesday as investors looked ahead to the U.S. Federal Reserve’s interest rate strategy and President-elect Donald Trump’s tariff policies, which could shape the metal's trajectory next year.

Gold prices have steadied at $2,620 an ounce, reflecting investor caution amidst mixed signals from the US Federal Reserve. After closing 0.4% lower earlier this week, bullion has rebounded slightly in thin holiday trading.

Gold prices remained steady as investors anticipated fewer interest rate cuts from the Federal Reserve in 2025 amid the approaching Christmas holiday. Despite a benign U.S. inflation reading, markets are pricing in minimal easing next year.