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2025-10-31 14:06:50
Gold prices fell due to a strong dollar, but are still on track for a third consecutive monthly gain. 1. Gold prices dipped slightly in Asian trading on Friday, with spot gold briefly falling below the $4,000 mark to $3,988.91 per ounce. It has since recovered to around $4,010, a drop of about 0.4%. Uncertainty surrounding a Fed rate cut pushed the dollar to a three-week high overnight, but spot gold is still up 3.9% so far this month, on track for its third consecutive monthly gain. 2. Tim Waterer, chief analyst at KCM Trade, said that hawkish signals from the Fed chairman are unfavorable for gold, and the prospect of a December rate cut is more uncertain, boosting the dollar and complicating the yield environment. 3. The dollar index held near a three-month high on Friday, making gold more expensive for holders of other currencies. The Fed cut rates by 25 basis points to 3.75%-4.00% on Wednesday, but after Powell's speech, the FedWatch tool showed the probability of another 25 basis point cut in December falling from 91.1% to 74.8%.
