https://sputnikglobe.com/20251110/gold-back-above-4000-on-bets-of-december-rate-cut-despite-fed-signals-to-contrary-1123090322.html
Gold Back Above $4,000 on Bets of December Rate Cut Despite Fed Signals to Contrary
Gold Back Above $4,000 on Bets of December Rate Cut Despite Fed Signals to Contrary
Sputnik International
Gold prices rose to return above the key $4,000 an ounce level on bets that weak US jobs numbers will force the Federal Reserve to cut interest rates in December — despite the central bank issuing signs to the contrary.
2025-11-10T13:45+0000
2025-11-10T13:45+0000
2025-11-10T13:45+0000
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In Monday’s New York trading, the spot price of gold, which reflects global trades in gold bullion, was at $4,094.40 an ounce by 8:00 US Eastern Time (13:00 GMT) — up $94.68, or 2.4%. US gold futures for December delivery on New York’s Comex were at $4,102.55 an ounce, up $92.75, or 2.3%. The rebound came after spot gold fell nearly 6.5% over three prior weeks of losses. The futures market gave up about 5% over the same period. Until last week, gold had struggled to regain its $4,000 perch amid indications from Fed Chairman Jerome Powell that the central bank could skip an interest rate cut in December due partly to the lack of credible data over US jobs growth. A blackout on US macroeconomics data had transpired in recent weeks after the US federal government went into a shutdown that began on October 1. Gold traders said the market was betting, however, on private employment data that showed the United States had suffered its worst round of layoffs in about 20 years in October. That ramped up bets that the Fed will opt for a rate cut at its December 9-10 monetary policy meeting to prevent further labor market weakness. The central bank had already reduced rates by a half percentage point at both its September and October policy meetings.
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Gold Back Above $4,000 on Bets of December Rate Cut Despite Fed Signals to Contrary
WASHINGTON (Sputnik) - Gold prices rose to return above the key $4,000 an ounce level on bets that weak US jobs numbers will force the Federal Reserve to cut interest rates in December — despite the central bank issuing signs to the contrary.
In Monday’s New York trading, the spot price of gold, which reflects global trades in gold bullion, was at $4,094.40 an ounce by 8:00 US Eastern Time (13:00 GMT) — up $94.68, or 2.4%.
US gold futures for December delivery on New York’s Comex were at $4,102.55 an ounce, up $92.75, or 2.3%.
The rebound came after spot gold fell nearly 6.5% over three prior weeks of losses. The futures market gave up about 5% over the same period.
23 October 2025, 07:44 GMT
Until last week, gold had struggled to regain its $4,000 perch amid indications from Fed Chairman Jerome Powell that the central bank could skip an interest rate cut in December due partly to the lack of credible data over US jobs growth.
A blackout on US macroeconomics data had transpired in recent weeks after the US federal government went into a shutdown that began on October 1.
Gold traders said the market was betting, however, on private employment data that showed the United States had suffered its worst round of layoffs in about 20 years in October. That ramped up bets that the Fed will opt for a rate cut at its December 9-10 monetary policy meeting to prevent further labor market weakness. The central bank had already reduced rates by a half percentage point at both its September and October policy meetings.
