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Gold futures surged significantly on the opening day of 2025, reaching a two-week high with the February contract climbing $32.10 to settle at $2,671.20. This follows Tuesday's gain of $19.30, resulting in a combined increase of over $50 from Monday, December 30's low of $2,608.
Gold demonstrated remarkable strength in the previous year, posting approximately 27% gains—its strongest annual performance since 2010. The fundamental factors that drove this impressive rally remain firmly entrenched in current market sentiment, suggesting potential for continued upward momentum. The World Gold Council suggests that sustained buying activity from central banks globally continues to support current gold prices and could maintain upward pressure on valuations.
The CME's FedWatch tool currently indicates an 88.8% probability that the Federal Reserve will maintain current interest rates between 4¼% and 4½% at January's FOMC meeting. For March, there's a 47.9% probability of continued rate pause, while May's outlook shows only a 38.5% probability of maintaining current rates. The tool suggests a 47.1% likelihood that by May 2025, the Federal Reserve will have lowered rates to between 4% and 4¼%.
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