AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

12/2/2025: Gold slides on profit-taking

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold slid 1.3% to close under $4,187 as traders took profits from yesterday's six-week high ahead of important data releases later this week. Silver slid 0.8% to $57.98 an ounce.

Recent data on manufacturing, consumer sentiment, and job growth have indicated an economy slowing under the combined weight of high tariffs, rising inflation, the longest US government shutdown in history, and uncertainty over economic policies.

Traders have up the odds of December rate cut from the Fed to nearly 90% from virtually nonexistent just weeks ago. In addition, another cut in January now has better than a 50/50 chance, according to CME FedWatch.

Gold rose to a six-week high yesterday behind this dovish rate view as the dollar and Treasury retreated. Today these trades reversed themselves, with the dollar and yields bouncing slightly higher while gold retreated in a bout of profit-taking.

Releases this week of the November ADP private payrolls report and the crucial Personal Consumption Expenditures Index will go far toward establishing whether the Fed will, in fact, reduce rates again.

Gold has been strongly supported this year by aggressive purchases by global central banks. This trend appears to be accelerating. Central banks bought 53 tons of gold in October, up 36% month-on-month, according to the World Gold Council.

Platinum fell 1.8% while palladium rose 1.3%.

At the New York spot close: gold slid %52.70 to $4,186.90; silver shed 44 cents to $57.98; platinum dropped $29.70 to $1,633.35; and palladium picked up $18.60 to $1,463.35 an ounce.