Global gold prices held steady on Friday after falling more than 1%, as traders increased their bets that the US Federal Reserve will cut interest rates in December, following dovish policy signals from the central bank.
Reuters reported that on Friday, November 21, 2025, gold prices steadied after an early-session decline of more than 1%, driven by rising expectations of a US rate cut after the Federal Reserve outlined a more accommodative monetary stance.
Spot gold was flat at US$4,086.57 per ounce at 13:48 ET (18:48 GMT), after dropping sharply earlier in the session. Bullion is expected to post a 0.1% weekly gain.
US December gold futures settled 0.5% higher at US$4,079.50 per ounce.
New York Fed President John Williams said on Friday that the Federal Reserve could reduce rates “in the near term” without jeopardising its inflation goal.
Jim Wyckoff, senior analyst at Kitco Metals, said the comments were “definitely supportive”, adding that they encouraged buying during the morning session.
Traders now see a 74% chance of a December rate cut, compared with 40% previously.