Gold Price Today (Dec. 13, 2025): Gold Holds Near $4,300 After Fed Cut as Traders Eye New Record Highs

Updated: Saturday, December 13, 2025

Gold is ending the week near the psychologically important $4,300 per ounce level after a powerful post-Fed rally pushed prices within striking distance of fresh all-time highs. With most major bullion trading paused for the weekend, the “gold price today” reflects Friday’s late-session levels and the market’s response to a softer U.S. dollar, shifting interest-rate expectations, and a renewed bid for defensive assets.

Below is what’s moving gold right now, what major analysts are forecasting for 2026, and the technical levels traders are watching as markets reopen.

Gold price today: Where spot gold and futures stand

Gold surged this week following the U.S. Federal Reserve’s latest rate cut and a wave of positioning that accelerated the move into Friday’s close.

Spot gold (XAU/USD) pushed to a seven-week high of $4,353.56 on Friday before easing back, with FXEmpire noting the session ended around $4,299.38 and the market hesitating just below the record high near $4,381.44. ^[1]
Reuters reported spot gold at $4,293.43/oz late Friday, while U.S. gold futures settled at $4,328.3. ^[2]
Retail “live price” feeds continued to show gold near the same neighborhood on Saturday, with one widely used quote page listing gold around $138–$140 per gram (roughly consistent with ~$4,300/oz). ^[3]

The key takeaway: gold remains elevated and very close to record territory, but traders have started to trim risk into the weekend after a sharp multi-session advance. ^[4]

Why gold is rising: The Fed cut—and what comes next

Gold’s rally is tightly linked to the U.S. rate outlook. On December 10, 2025, the Fed cut the federal funds target range by 25 basis points to 3.50%–3.75% and signaled it will be data-dependent on further moves. ^[5]

Importantly for markets, the decision was unusually split:

Two officials preferred no change, while one preferred a larger 50 bps cut—a sign of real debate about inflation versus growth risks. ^[6]
Reuters reported dissenting voices emphasizing inflation risks and the challenge of making decisions with incomplete data after the government shutdown disrupted releases. ^[7]

The Fed statement also reiterated that inflation “remains somewhat elevated,” while acknowledging job gains have slowed and unemployment has edged up—conditions that can bolster gold when investors expect rates to fall or real yields to soften. ^[8]

The U.S. dollar and Treasury yields: A push-pull for bullion

Gold’s strongest tailwind remains the weaker dollar trend, but late-week trading also showed the classic tug-of-war between gold and yields:

FXEmpire noted the 10-year yield rebounded to ~4.188% and the 30-year to ~4.852% into Friday’s close—pressuring non-yielding gold at the margin. ^[9]
At the same time, FXEmpire wrote that the dollar index was still on track for a third straight weekly decline and down more than 9% for the year, which helps underpin bullion demand. ^[10]

In practical terms: gold rallies when the market leans toward easier policy and a softer dollar, but it can stall temporarily when yields bounce—especially heading into major U.S. data releases.

Fund flows are supporting gold—even as physical buying gets harder at these prices

Investment flows: “Paper gold” demand stays firm

One of the most supportive signals for gold in mid-December is that money continues to rotate into precious-metals exposure:

Reuters reported gold and precious-metals commodity funds saw net inflows of $1.9 billion for a fifth straight week. ^[11]

That’s consistent with a market where investors remain willing to buy dips—especially with uncertainty around rates, inflation persistence, and geopolitics.

Physical markets: High prices are “killing the vibe” in Asia

On the other side of the ledger, high prices are clearly dampening jewelry and retail demand in key hubs:

Reuters reported India’s domestic gold prices hit a record (132,776 rupees per 10 grams) and that elevated levels have reduced footfall during wedding season, with demand also described as muted in China. ^[12]

This split matters: financial flows can drive price quickly, but soft physical demand can limit upside if speculative positioning becomes crowded.

Silver’s record run is spilling over into gold sentiment

Gold hasn’t been rallying alone. Silver hit a record before pulling back, and that momentum has helped keep precious metals in the spotlight:

Reuters reported silver hit an intraday record $64.64/oz on Friday before profit-taking knocked it lower; in the same update, Reuters pegged gold at $4,293.43/oz. ^[13]
Earlier in the week, Reuters quoted analysts pointing to silver strength “pulling gold up,” alongside broader momentum across the metals complex. ^[14]

When silver goes “limitlessly exciting,” it often draws new attention to the whole complex—helping gold stay bid even when gold’s own catalysts are temporarily quiet.

Gold technical analysis: The levels traders are watching next week

With gold close to records, technical levels are increasingly influencing short-term positioning.

Key resistance zones

$4,353.56 (Friday’s peak)
$4,381.44 (record high cited by FXEmpire) ^[15]
MarketPulse and ActionForex highlight a broader resistance region near $4,300–$4,400, with a potential extension zone toward $4,500–$4,575 if price breaks cleanly into new highs and momentum holds. ^[16]

Key support zones

$4,192.36 (Fibonacci support highlighted by FXEmpire)
$4,133.95 (next support)
~$4,114 (50-day moving average area referenced by FXEmpire) ^[17]

FXStreet adds that gold remains in a bullish technical posture, citing a rising 21-day SMA (around $4,165) and highlighting retracement levels that can act as pivots during pullbacks. ^[18]

Forecasts and outlook: Where analysts see gold heading in 2026

Forecasts vary—because the gold story is not just “rates,” but also central-bank behavior, geopolitics, debt sustainability concerns, and investor allocation shifts.

Here are several widely circulated outlook points referenced in current coverage:

1) Mainstream bank targets: The $4,900 conversation

Business Insider summarized Goldman Sachs research arguing that U.S. private portfolios are still under-allocatedto gold, with gold ETFs only 0.17% of private U.S. financial portfolios; Goldman sees that as a source of potential upside and forecasts $4,900 by end-2026, while noting meaningful upside risk if allocations rise. ^[19]

2) A more conservative benchmark: $4,213 average in 2026

Reuters quoted Bart Melek (TD Securities) saying: “Our average annual forecast for gold in 2026 is $4,213 per ounce.” ^[20]

3) Scenario-based investing view: $5,000 is “more likely than $3,000”

State Street Global Advisors’ 2026 outlook argues that while the rally may moderate, $5,000/oz in 2026 looks more likely than $3,000/oz, and gives a base-case range of $4,000–$4,500. ^[21]

4) Big-picture positioning: Gold’s 2025 surge sets the stage

The World Gold Council noted gold was up 60.6% based on the LBMA Gold Price PM as of November 28, 2025, and frames 2026 as a “push ahead or pull back” year depending on macro and risk conditions. ^[22]

What to watch next week that could move gold quickly

With gold near records, the next major catalyst can trigger outsized moves—either a breakout or a fast pullback.

U.S. jobs data: Nonfarm payrolls on December 16

Multiple market updates point to the U.S. Nonfarm Payrolls release due Tuesday, Dec. 16, 2025 as the next headline risk for bullion pricing. ^[23]

If jobs data shows sharper cooling, markets may lean back toward more easing—typically supportive for gold. A surprisingly strong report can do the opposite by lifting yields and the dollar.

Fed messaging and internal division

The Fed’s own split vote, plus officials publicly emphasizing inflation risks, increases the sensitivity of gold to any new signal about whether the central bank is truly pausing or simply waiting for data. ^[24]

Asia demand and price fatigue

With India and China demand described as soft at these levels, any sign of renewed physical buying—or deeper demand destruction—can affect the durability of rallies. ^[25]

Bottom line: Gold price today is steady—direction depends on data and the breakout

As of December 13, 2025, gold is consolidating near $4,300/oz after a week driven by a Fed rate cut, a softer dollar trend, and strong investor appetite for precious-metals exposure. ^[26]

The market’s next move likely hinges on whether gold can clear the $4,353–$4,381 zone decisively—or whether yields and profit-taking pull prices back toward $4,192 and the low-$4,100s support band. ^[27]

This article is for informational purposes only and is not investment advice.