Gold Edges Down on Fading Hopes For a December Interest-Rate Cut

09:12 AM EST, 11/20/2025 (MT Newswires) -- Gold prices eased early on Thursday even as the dollar and treasuries weakened as hopes for a December interest-rate cut from the Federal Reserve continue to fade. Gold for December delivery was last seen down $6.10 to US$4,076.70 per ounce.

The drop comes amid fading expectations the Federal Reserve will again lower interest rates before year end as Wednesday's release of minutes from the last meeting of its policy committee showed some members were skeptical about the need for a cut at its December 10 meeting. The CME FedWatch Tool now sees a 35.6% probability the group will cut rates at the next meeting, down from 98.8% a month earlier.

Rising risk appetite is also pressuring gold as stock markets in Asia and Europe rose and futures see a higher open for North American exchanges as better than expected third-quarter results for AI-chipmaker Nvidia (NDVA) continued the boom in technology shares.

The dollar edged off a six-month high early, with the ICE dollar index last seen down 0.04 point to 100.2. Treasury yields eased, with the U.S. two-year note last seen paying 3.579%, down 2.3 basis points, while the yield on the 10-year note was down 1.5 points to 4.127%

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