14.11.202502:01:46UTC+00Gold Set for Best Week in Four

Gold prices surged past $4,190 per ounce on Friday, poised for their strongest weekly performance in a month. This increase was fueled by a weakened dollar and uncertainties stemming from a backlog of official data after the reopening of the US government. Kevin Hassett, Director of the National Economic Council, commented that some October figures might "simply never show up" due to disruptions in data collection during the shutdown. While some reports might soon surface, others risk being permanently lost, contributing to heightened caution regarding the nation's economic prospects. Nevertheless, the upward momentum in gold was tempered as Federal Reserve officials remained hesitant about further monetary easing. Market expectations for a December rate cut by the Fed have diminished, with the likelihood of a 25-basis-point reduction now at approximately 50%, compared to over 95% a month prior. Meanwhile, predictions regarding rate cuts in 2026 remain unchanged.