U.S. gold futures for December delivery settled 0.2% lower at $4,137.8 an ounce.
Gold prices pared losses on Friday after slightly softer-than-expected US inflation data reinforced expectations that the Federal Reserve will cut interest rates next week, but the metal was still set for its first weekly loss in 10 weeks.
Gold fell 0.2 percent to $4,118.29 an ounce at 1:42 PM ET (1742 GMT), after falling nearly 2 percent earlier in the session. The price has fallen more than 3 percent this week.
US gold futures for December deliveries were down 0.2 percent at $4,137.8 an ounce.
“Gold and silver are rising as September’s core CPI comes in lower than expected, but it’s likely not enough to fully blunt this week’s sell-off. Price action suggests gold and especially silver need another move lower before consolidation can take place,” said Tai Wong, an independent metals trader.
Spot gold hit a record high of $4,381.21 on Monday but has since fallen more than 6 percent as investors booked gains and signs of easing trade tensions between the U.S. and China dampened demand for safe havens.
Spot silver fell 0.6 percent to $48.65/oz, on track for a weekly loss of more than 6 percent.
Labor Department data showed US consumer prices rose 3.0 percent in the 12 months through September, slightly less than economists’ expectations of a 3.1 percent increase.
Traders have almost fully priced in a rate cut at next week’s US central bank meeting, with another expected in December.
Lower interest rates reduce the opportunity cost of holding non-yielding assets such as gold.
Meanwhile, the White House confirmed on Thursday that US President Donald Trump will meet with Chinese President Xi Jinping next week, ahead of the November 1 deadline for additional US tariffs on Chinese imports.
“If gold prices fall below $4,000, we will continue to see a dramatic washout from the market, perhaps all the way to $3,850, the next major support level,” said Phillip Streible, chief market strategist at Blue Line Futures.
Bullion is up 55 percent this year, partly due to geopolitical and trade tensions, robust central bank buying and expectations of U.S. interest rate cuts.
Elsewhere, platinum fell 1 percent to $1,608.77, and palladium fell 0.5 percent to $1,450.05.
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Published on October 25, 2025
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