Gold was slightly subdued in weekend trading as financial institutions were still in Christmas-to-New Year holiday mode.
At 9.30am, gold was at $2,631.92, down 0.06% since it opened early Friday in Asian trading.
Meanwhile, gold traded in the $2,630 zone on safe-haven support as the market looked ahead to the US economic outlook under the Trump administration and Fed policy in 2025.
The precious yellow metal failed to gain traction as subdued US PCE inflation data fueled expectations of a limited Fed rate cut next year.
However, its position remained strong as geopolitical risks stemming from the prolonged Russia-Ukraine standoff and tensions in the Middle East increased.
The safe-haven commodity also ended the year on a positive note, up 27%, its best performance since 2010.
The surge was driven by central bank purchases, rising geopolitical uncertainty and monetary easing by major central banks.
