Hamas and Israel blame each other for ceasefire delay
Gold likely to remain near current levels at yearend analyst
Bullion has risen by 27 so far in 2024

Dec 26 Reuters Gold rose on Thursday in light holiday trading, boosted by safehaven demand due to geopolitical tensions, with investors eying the Federal Reserve39;s 2025 rate strategy and Donald Trump39;s tariff policies, which could shape the outlook for the metal.

Spot gold was up 0.4 at 2,623.82 per ounce, as of 0735 GMT.

Bullion has risen 27 this year and is set for its best performance since 2010, driven by Fed rate cuts and heightened geopolitical uncertainties.

Gold is considered a safe investment option during geopolitical turmoil and thrives in a low interest rate environment.

U.S. gold futures added 0.1 to 2,639.30.

Trading volumes will likely thin out as the yearend approaches.

Some inaction on the U.S. dollar and U.S. Treasury yield in today39;s session allows gold prices to resume its recovery following its postFed dip, said IG market strategist Yeap Jun Rong.

The usual positive trends in gold in the last week of December are contributing to the current rise in gold prices, Yeap Jun Rong said.

On the geopolitical level, Hamas and Israel exchanged blame on Wednesday for failing to finalize a ceasefire agreement, despite reporting progress in recent days.

We are hearing about uncertainties related to the Middle East. If the situation escalates, it might create an upside bias for gold, said…