Even though there is consensus that gold has probably already hit its 2025 high point and is unlikely to go beyond the all-time-record it set in October when it breached the $4 300/oz mark, a Santa gold rally during the Christmas period and into year-end should not be ruled out. Also, while the incomplete reopening of US administration is encouraging, the Commodity Futures Trading Commission (CFTC) needs to return with key risk-assessment data required by the Federal Reserve as all eyes focus on December 10 when a further interest rate change could have implications for gold.
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