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Update: Gold Steady Along with the Dollar as U.S. Inflation Rose in September

BY MT Newswires | ECONOMIC | 02:01 PM EST

02:01 PM EST, 12/05/2025 (MT Newswires) -- Gold was steady midafternoon on Friday after a report showed U.S. inflation continued to run hot in September but not enough to derail expectations the Federal Reserve will cut interest rates next week.

Gold for February delivery was last seen up US$3.70 to US$4,246.70 per ounce.

In a report delayed by the U.S. government shutdown, the Bureau of Economic Analysis reported the Personal Consumption Expenditures (PCE) Index, the Federal Reserve's preferred inflation measure, rose at a 2.8% annualized pace in September, up from 2.7% in August but matching the consensus estimate according to FactSet.

The rise is not expected to dent hopes for an interest-rate cut when the Fed's policy committee ends its two-day meeting on Wednesday. The CME FedWatch tool now sees an 87.2% probability for a rate cut, down from 88.2% prior to the data.

The dollar was steady, with the ICE dollar index last seen up 0.01 points to 99.0. Treasury yields rose, with the U.S. two-year note last seen paying 3.573%, up 4.2 basis points, while the yield on the 10-year note was up 4.3 points to 4.145%

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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