Gold Futures Flat as Hawkish Fed Expectations Offset Safe-Haven Demand

Gold Futures Flat as Hawkish Fed Expectations Offset Safe-Haven Demand

Gold futures are broadly flat, awaiting further catalysts in the new year.

Futures are flat on $2,655 a troy ounce. Investor sentiment toward the precious metal remains dominated by expectations of a more hawkish Federal Reserve, says ActivTrades' Ricardo Evangelista.

The Fed is more likely to keep interest rates elevated for an extended period, pushing Treasury yields higher and weighing on the price of non-interest yielding bullion, Evangelista says in a note.