Weekly Gold Review: Gold extends 5-month rally; Up 3% for the week as Fed cut bets surge
29-Nov-2025
13:18
Gold futures soared to $4262 an ounce this week, marking a strong one-month high and extending gains for the fifth straight month as global markets priced in stronger odds of a December Federal Reserve rate cut. Dovish commentary from Fed officials, along with delayed economic data showing renewed softness, further boosted expectations of additional easing. Adding momentum, Kevin Hassett, seen as a top contender to replace Jerome Powell, echoed President Trump's push for an imminent rate reduction. The dollar index held above 99 with weekly loss of more than 0.5%, keeping sentiment constructive for bullion. On MCX, gold futures closed near ₹129600 per 10 grams, climbing 1.51% on 28 November and finishing the week over 3% higher. Silver dominated the spotlight, blasting past $57 an ounce and delivering nearly 13% weekly gains on mounting supply concerns and rising expectations of more Fed cuts. The World Gold Council continued to highlight steady investment flows into bullion as rate-cut bets intensified.
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