Gold prices edged higher on Tuesday, supported by the prospect of interest rate cuts in 2024 from the Federal Reserve, while investors look forward to a slew of economic data this week for more clarity on the U.S. rate outlook.
Spot gold XAU= was up 0.3% at $2,068.29 per ounce, as of 0129 GMT. Bullion prices gained 13% in 2023 to post their first annual gain since 2020.
U.S. gold futures GCcv1 also climbed 0.3% to $2,077.40 per ounce.
Focus this week will be on minutes from the last Fed meeting due on Thursday for more cues on rate cuts this year. Data on U.S. job openings and December non-farm payrolls will also been keenly watched this week.
London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.
