WASHINGTON (dpa-AFX) - Gold edged up slightly on the last trading day of the year and was on track for its best year in more than a decade with a more than 26 percent increase year-to-date.
Spot gold edged up by 0.3 percent to $2,613.94 in European trade, while U.S. gold futures were up 0.3 percent at $2,626.86.
The precious metal remains on track to deliver its best annual performance since 2010 on robust central bank buying, heightened geopolitical tensions, and monetary policy easing by major global banks, including the U.S. Federal Reserve.
Heading into 2025, markets now await cues from U.S. President-elect Donald Trump's tariff policies and the likely interest-rate moves by the Federal Reserve.
Traders expect Donald Trump's policies of looser regulation, tax cuts, tariff hikes and tighter immigration to be both pro-growth and inflationary.
Federal Reserve Chair Jerome Powell said earlier this month that more reductions in borrowing costs now hinge on further progress in lowering stubbornly high inflation, prompting traders to dial back estimates of how far borrowing costs are likely to fall over the coming year.
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