Gold Prices Drop Amid Lower Safe-Haven Demand

Gold prices declined on Monday morning as demand for safe-haven assets weakened.

Spot gold fell by 0.4% to $2,690.81 per ounce, while U.S. gold futures dropped 0.5% to $2,734.90 per ounce.

Market participants are closely watching the inauguration of U.S. President Donald Trump later today, as his administration’s trade policies could shape the future path of U.S. interest rates.

Experts predict that the Federal Reserve is likely to keep interest rates unchanged at its upcoming meeting on January 29, with potential rate cuts resuming in March.