Gold Heads for Fourth Monthly Gain on Fed Rate‑Cut Bets

Global gold prices rose on Friday, putting the metal on track for a fourth consecutive monthly gain as markets increasingly expect a rate cut from the Federal Reserve (Fed) in December.

Spot gold climbed about 0.7 % to $4,185.34 per ounce, while U.S. gold futures for December delivery were at $4,221.30 per ounce before trading was suspended due to an outage at CME Group.

That puts bullion on pace for a roughly 3.9 % gain in November.

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What’s Behind the Rally

Investor optimism has been fueled by dovish comments from Fed officials — including signals from Mary Daly of the San Francisco Fed and Christopher Waller — that point toward at least a 25‑basis‑point rate cut at the central bank’s December meeting.

Trading conditions contributed too: the CME outage removed futures liquidity, widening over‑the‑counter spreads and driving spot prices higher.

Meanwhile, the U.S. dollar weakened — which often boosts dollar‑priced gold for buyers using other currencies.

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Broader Metals Market

The gold rally extended across other precious metals: silver, platinum and palladium also posted gains, although their increases were more modest compared with gold.

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