Gold steadies as markets brace for key U.S. data

November 17, 2025 (MLN): Gold prices were little changed on Monday as investors looked ahead to a series of U.S. economic reports this week that could offer fresh clues on the Federal Reserve’s interest rate outlook.

This cautious mood followed a sharp 2% drop in the previous session, triggered by waning expectations of a near-term rate cut.

Spot gold was up 0.13% at $4,075.00 an ounce as of [4:35 pm] PST, according to data reported by Mettis Global.

According to Carlo Alberto De Casa, external analyst at Swissquote, buying interest from investors seeking safety amid market uncertainty helped stabilize gold after last week’s decline. This offset some pressure from a strengthening U.S. dollar and the market’s reassessment of Fed policy, as per Reuters.

The U.S. dollar index extended gains for a second straight session, making dollar-priced bullion less affordable for buyers using other currencies.

Markets are now focused on multiple U.S. economic indicators due in the coming days, particularly the delayed September nonfarm payrolls report set for release on Thursday, which could signal whether economic momentum is cooling or holding firm.

Meanwhile, the probability of a December U.S. interest rate cut has fallen below 50%, weighed down by recent cautious remarks from Federal Reserve officials. The CME FedWatch tool shows traders now pricing in just a 44% chance of a 25-basis-point cut, compared to more than 62% a week earlier. Lower rates tend to boost gold because the metal does not offer yield.

Despite short-term fluctuations, gold has posted a remarkable 56% rally so far this year, hitting an all-time high of $4,381.21 on October 20. The surge has been supported by economic and geopolitical concerns, strong ETF inflows, and expectations of more rate cuts in 2026.

Ricardo Evangelista, analyst at ActivTrades, noted that gold’s strong fundamentals remain intact. “Gold bull markets typically end when the underlying conditions that fuel them change. Since no such shift seems imminent, I would not be surprised to see prices continue to climb and reach $5,000 in 2026,” he said.

In the broader precious metals market, spot silver rose 0.8% to $50.96 per ounce, platinum inched up 0.3% to $1,545.94, while palladium edged down 0.1% to $1,382.59.

Copyright Mettis Link News