Gold prices dip below $3,900, hitting a year-to-date low
Gold fell to $3,891 on Friday, its lowest level since October 2025, as a stronger U.S. dollar and solid U.S. economic data pressured the metal.
Gold (XAU/USD) slipped below $3,900 on Friday, reaching $3,891, the lowest price since October 28, 2025. The decline came as U.S. economic indicators, including robust growth and a strong labor market, supported the dollar, which is priced in the currency. A higher core PCE reading and rising oil prices linked to tensions in the Middle East also boosted the greenback’s appeal.
Investors are watching the Federal Reserve’s upcoming decision, with the lack of forward guidance from Chair Kevin Warsh leading to uncertainty about a possible rate hike in December. Prime Terminal now estimates a 70% probability of a December rate increase, down from 84% after the Fed’s recent meeting.
"The Fed’s decision on Wednesday and the absence of clear forward guidance have made investors skeptical about an interest-rate increase in December," the report noted.
The story was corrected on October 30 to clarify that the gold level represented a twelve-month low, not a four-month low.