Gold Trading Lower Again as Hopes the Fed Will Again Cut Interest Rates This Year Fade

09:24 AM EST, 11/17/2025 (MT Newswires) -- Gold traded lower for a third-straight session amid dimming hopes for a December interest-rate cut from the Federal Reserve and a stronger dollar. Gold for December delivery was last seen down $17.10 to US$4,077.10 per ounce.

The price of the precious metal has steadied around the US$4,000 mark since its Oct.20 record high of US$4,359.40, amid few incentives to push prices higher. An expectation that the Federal Reserve's policy committee will again cut interest rates at its Dec. 10 meeting have eased as U.S. stock markets boom amid demand for artificial-intelligence stocks. The CME Fedwatch Tool now sees a 42.9% probability for rates to be cut at the meeting, down from 62.4% a week ago and 93.7% a month earlier.

"Gold trades lower for a third day....with traders focusing on the gyrations in the US stock market, a deluge of US economic data and recently a diminishing hope for a US Federal Reserve rate cut next month after Fed officials showed little conviction," Saxo Bank noted.

The dollar moved higher early, a bearish note for the metal. The ICE dollar index was last seen up 0.15 points to 99.45. Treasury yields were steady, with the yield on the U.S. two-year note last seen unchanged at 3.612%, while the 10-year note was paying 4.14%, down 0.7 basis points.

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