Precious Metals News
Lower interest rates tend to be favorable to gold, as it is a non-yielding asset.
Spot gold rose 0.7% at $4,236.57 per ounce at 3:17 p.m. ET (2017 GMT). U.S. gold futures for February delivery settled 0.3% lower at $4,224.70.
Meanwhile, the U.S. Labor Department's JOLTS report showed job openings rose to 7.67 million in October, beating forecasts of 7.15 million, indicating a strong labor market.
Investor attention now turns to this week’s U.S. Federal Reserve meeting, with futures pricing in an 88% probability of a 25-bps rate cut.
Meanwhile, last month, Deutsche Bank had lifted its 2026 gold price forecast to $4,450 an ounce, up from $4,000 earlier, citing steadier investor inflows and sustained central-bank buying.
A strong US economic rebound could push rates higher and strengthen the dollar, applying downward pressure on prices.
Central banks – and investors – see the precious metal as a long-term, reliable store of value during periods of economic turmoil.
The North American precious metals scrap market saw a significant upswing during the week of November 28- December 4, 2025.
Gold futures slipped 0.3% to $4,220.10 per ounce, while spot gold retreated 0.3% to $4,190.13 an ounce at the time of writing.
In response, rate futures priced in nearly a 90% chance of a 25 bps cut next week.
Brazil also recorded strong demand, adding 16 tonnes in its second consecutive month of purchases, bringing reserves to 161 tonnes.
Silver retreated from its record high of $58.83 hit on Monday, easing 0.1% to $57.90 per ounce. It has risen over 100% year-to-date.
Lower interest rates tend to favor non-yielding assets such as gold.
JPMorgan forecasts gold above $5,055 in late 2026, while Morgan Stanley expects $4,400.
While questions are building over how long gold's record rally can last, top forecasters are bullish over the yellow metal's outlook.
The prices of 18-carat and 22-carat gold scrap also recorded notable increases by $35.46 per Oz and $43.31 per Lb respectively.
Investors are also pricing in three additional cuts by the end of 2026.
Meanwhile, prosecutors say it’s worth it to warn people about this gold scam.
Non-yielding gold tends to do well in an environment of low interest rates, and during geopolitical and economic instability.
Assuming those conditions persist, BofA argues that bullion could climb to $5,000 an ounce in 2026.
Ten-year U.S. Treasury yields stabilized at 4.08%, while real yields dipped to 1.84%.
Gold, a traditional safe haven, has risen 55% this year, hitting a record high of $4,381.22 on October 20.
The gold consumption in the country recorded its weakest quarter since 2020, falling significantly to 118 tonnes.
Traders are also awaiting a slew of economic data that’s due Thursday after the US government reopened last week.
The Chinese gold ETFs witnessed notable inflows in October, adding $4.5 billion during the month.