WASHINGTON (dpa-AFX) - Gold traded lower on Friday but was on track for a third straight monthly gain as the ongoing U.S. government shutdown completed one month.
Spot gold dipped 0.6 percent to $4,002.30 an ounce in European trading while U.S. gold futures were little changed at $4,013.80.
Gold prices were set for monthly gains of nearly 4 percent despite the U.S. Federal Reserve downplaying the possibility of another interest-rate cut in December and a temporary agreement between the United States and China reducing uncertainty in the market.
The dollar held its ground after having reached a three-month high as Fed rate cut hopes diminish.
After a divided U.S. Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday, Chair Jerome Powell cautioned investors not to expect another interest rate cut in December, saying it is 'not a foregone conclusion' and that Fed officials have strong and differing opinions on how to proceed next month.
Meanwhile, President Donald Trump has called on Republicans to 'play their 'TRUMP CARD' and invoke the so-called 'Nuclear Option' to end the 30-day long government shutdown.
Posting on Truth Social after returning to the White House from his tour of Malaysia, Japan and South Korea, Trump urged his party to 'get rid of the Filibuster, and get rid of it, NOW!'
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