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Market expectations for the U.S. Federal Reserve to cut interest rates next week have risen, pushing gold prices slightly higher. Spot gold rose by 0.2% to $4,215.67 per ounce. Other metal prices also fluctuated, with February gold down 0.1%, March silver up 2.3%, March copper up 1%, January platinum down 0.3%, and March palladium up 0.8%
Gold prices rose as expectations for a Federal Reserve rate cut increased, with major brokerages predicting a 25-basis-point cut in December. Spot gold rose 0.7% to $4,235.59 per ounce. The CME's FedWatch tool indicates an 87.2% chance of a rate cut next week. Investors await U.S. inflation data, with September's PCE expected to show a 0.2% monthly rise. Silver and palladium also saw gains, while platinum fell.
Barrick Mining Corp's stock surged 154% in 2025 due to rising gold and copper prices, strong operational performance, and strategic pivots. The company reported robust Q3 outcomes, including high production and cash flow, leading to expanded share buybacks. Barrick's long-term fundamentals improved with increased reserves and potential IPO plans for North American assets, indicating a leaner gold entity. Sustained high metal prices and strategic moves could drive further gains, while volatile commodity prices pose risks.
Edward Chancellor discusses the recent surge in gold prices, suggesting it may signal a paradigm shift rather than a bubble. Factors include central banks' increased gold purchases and geopolitical events affecting the international monetary system. Despite high prices, Wall Street remains skeptical, projecting lower future prices. The current economic context differs significantly from past gold bull markets, with the U.S. now a major debtor and fiscal deficits much higher than in the 1970s.
Gold was likely to sustain its strong trend-like rally in 2026, UOB’s Global Economics & Markets Research said.
