Spot gold prices have been trying to advance slightly, rising by 0.12% and consolidating near $2615 per ounce, with futures on the CME steadier at $2629.
Despite significant gains yesterday, concerns over the pace of future interest rate cuts, with a low 6% probability of a January cut, limited gold's benefits.
The trading volume for gold futures saw a sharp decline yesterday, hitting 111,400 contracts, which is merely a third of the peak volumes earlier this month.
Historically, the last week of the year for gold has shown to be a winning week since 2016, which could support its recent price rally.
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