Gold price today: The gold prices at the New York Commodity Exchange (Comex) rose to a six-week high level of $4,299 per ounce during Monday's commodity market session, when compared to its levels on 21 October 2025 amid the rising rate cut bets for the upcoming US Federal Reserve meeting next week.
According to the Comex website data, the gold futures in New York were trading 0.10% higher at $4,259.10 per ounce as of 5:13 p.m. (GMT) on 1 December 2025, compared to the previous market close of $4,254.90 per ounce at the previous market close.
The spot gold prices were up 0.1% to $4,233.83 per ounce as of 11:15 a.m. (EDT), which was also the highest since 21 October 2025, reported the news agency Reuters on Monday.
On the domestic front, the gold prices on the Multi-Commodity Exchange (MCX) were trading 0.85 % higher at ₹130,596 per 10 grams on Monday, compared to ₹129,504 per 10 grams at the previous market close, according to the official data.
What's fueling the gold price rally?
Commodity market experts highlighted that the precious yellow metal is still receiving support from the inflationary pressures in the US economy and the uncertainty over a US Fed rate cut.
“The underlying environment of expectations of further rate cuts, along with inflationary pressure still above the Fed target... is still the underlying support in gold and silver,” David Meger, director of metals trading at High Ridge Futures, told the news agency.
According to the agency report, the commodity traders are expecting a 87% chance of a US Fed December rate cut after the softer-than-expected economic data and Jerome Powell's dovish remarks. If the interest rates are lowered, then it tends to favour non-yielding assets such as the precious metal gold.
“We still view gold and silver in a strong sideways to higher uptrend,” David Meger told the news agency.
Investors are now focusing on the key US economy data, which includes the November ADP employment figures, scheduled to be released on Wednesday, 3 December 2025, and the delayed Personal Consumption Expenditures (PCE) Index data for September 2025 on Friday, 4 November.
The gold prices also surged ahead of Jerome Powell addressing an event on Monday, which comes ahead of his FOMC policy meeting address on 10 December 2025, next week.
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