Gold Near 2-Week Highs

2025-11-26 18:45 By Felipe Alarcon 1 min. read

Gold climbed to around $4,160 per ounce on Wednesday to a near two week high as expectations for looser US policy lowered the dollar and cut the opportunity cost of holding bullion.

Futures and money markets now put the odds of a December 25bp Fed cut above 80% and reports that Kevin Hassett is the leading candidate for Fed chair reinforced expectations of easier policy ahead.

The economic data mix was uneven but still consistent with policy easing, with initial jobless claims surprising lower and durable goods orders coming in stronger even as other readings have signalled cooling, so traders continue to prioritise the broader run of weak demand indicators and dovish Fed commentary when judging the path of rates.

At the same time signs of easing geopolitical tensions after reports of a tentative Ukraine peace plan have reduced urgency for safe haven buying, which capped upside.



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