While investors eagerly await the interest rate outlook of the US Federal Reserve and the tariff policies of President-elect Donald Trump, which could shape the metal's 2025 trajectory, the metal's 2025 trajectory, the price of gold rose on Monday.

Spot gold was up 0.2% at $2,626.30 per ounce at 3:18 GMT. US gold futures gained 0.3% to $2,638.70. According to Kelvin Wong, OANDA's senior market analyst for Asia-Pacific, “geopolitical tensions were a major factor in gold's uptrend this year and are still likely to be part of the story in 2025, especially with Trump coming on the scene.” Bullion has gained over 27% since the start of the year and hit an all-time high of $2,790.15 on October 31, fuelled by significant Fed rate easing, including a jumbo cut in September, as well as increased geopolitical uncertainties. Gold is considered to be a protection against geopolitical turmoil and inflation. Spot silver rose 0.1% to $29.40 per ounce, platinum rose 0.2% to $921.45, and palladium rose 0.1% to $912.84