Gold prices are holding around $4,200 per ounce on Sunday, December 7, 2025, after a volatile week that saw profit-taking, record silver highs, and growing conviction that the U.S. Federal Reserve will cut rates at its meeting later this month. Live quotes from multiple data providers show spot gold trading in a tight band between about $4,198 and $4,211 per ounce in early New York trading. [1]
At the same time, gold is closing out one of its most dramatic years in decades: the metal is up roughly 60% in 2025, has logged more than 50 all‑time highs, and is being described by several institutions as the core asset in a broader commodities super‑cycle. [2]
This article brings together today’s gold price, the latest news, and fresh forecasts and analysis published around December 7, 2025, to give you a clear, Google‑News‑ready snapshot of where gold stands now and where it might be headed in 2026.
1. Gold Price Today: Key Levels Around $4,200
Across major price trackers, gold is essentially flat to slightly lower versus Friday, consolidating just below recent highs:
- A live spot quote shows $4,211.26 per ounce in U.S. dollars in early U.S. hours. [3]
- Another live aggregate shows $4,198.07 per ounce, down about $4 (-0.09%) from yesterday’s close, with the day’s range between $4,191.95 and $4,259.55. [4]
- Over the past 12 months, gold has climbed from lows near $2,580 to highs around $4,380, a gain of nearly 60% year‑on‑year. [5]
The World Gold Council (WGC) notes that as of late November, gold had delivered over 60% total return in 2025, the strongest annual performance since the late 1970s, buoyed by geopolitical and economic uncertainty, a weaker dollar, and momentum‑driven inflows. [6]
In short: gold is pausing, not collapsing, near the top of its recent trading range.
2. What Moved Gold This Week
Although today’s trade is relatively calm, the week leading into December 7 featured several key moves:
- On December 2, gold fell about 1.1% to around $4,186.89 per ounce as traders took profits after a six‑week high, ahead of important U.S. economic data and the Fed meeting. [7]
- By December 5, a Reuters recap showed gold supported by Fed rate‑cut optimism, with one bullion executive projecting a trading band of $4,200–$4,500 for 2025 and $4,500–$5,000 for 2026, depending on how aggressively the Fed eases. [8]
- Several intraday commentaries noted that higher bond yields occasionally capped gains, but renewed expectations of cuts, plus safe‑haven flows, kept gold anchored near $4,200 instead of retracing more deeply. [9]
Silver, meanwhile, has stolen some of the headlines, touching a record high above $59 per ounce and extending gold‑adjacent bullish sentiment in precious metals. [10]
3. Central Banks and Big Money: The Quiet Engine Behind the Rally
A big reason gold is still sitting near record levels is persistent central bank and institutional demand.
- WGC data show central bank gold purchases totaled 53 tonnes in October 2025, up 36% from September, continuing a multi‑year trend of reserve diversification away from traditional currencies. [11]
- A recent Goldman Sachs note, based on official sector data, estimated that central banks likely bought 64 tonnes in September versus 21 tonnes in August, and that November also saw elevated buying. The bank highlighted this as a major driver of gold’s roughly 55%+ gain in 2025 as of mid‑November. [12]
- New figures out today show that China’s People’s Bank (PBOC) has now added gold to its reserves for 13 straight months, underscoring how large emerging markets are anchoring demand even as the price has surged. [13]
Goldman Sachs has explicitly linked this central‑bank buying spree to its decision to raise its December 2026 gold price forecast to $4,900 per ounce from $4,300, arguing that if private investors keep following central banks into the metal, the rally can extend. [14]
4. Macro Backdrop: Fed, Fiscal Dominance and the “QE‑Lite” Era
Virtually every major gold forecast published around December 7 points to the same macro drivers:
- Interest rates and the Fed
- Two days ago, Reuters reported that traders continue to price in at least one Fed rate cut in December, and several more through 2026, even as yields stay volatile. [15]
- When real yields fall, the opportunity cost of holding non‑yielding gold declines, historically supporting higher bullion prices.
- Fiscal dominance and liquidity
- A detailed analysis from Sprott notes that gold set its highest monthly close ever in November 2025 as markets adjusted to what it calls a “fiscal dominance” regime: very large U.S. deficits effectively constrain the Fed from keeping policy too tight for too long. [16]
- The firm describes the Fed’s shift toward “QE‑lite”—a slow, structural expansion of the balance sheet to keep funding markets stable—as a tailwind for real assets, including gold. [17]
- The 2026 commodities super‑cycle narrative
- A new Bank of America strategy piece published today calls commodities the top “run‑it‑hot” trade for 2026, with gold singled out as the star performer of 2025—up about 60%, its best year since the 1970s. [18]
- The report links gold’s strength to structural inflation risks, high government debt, and fragmentation in global trade, all of which push investors toward tangible assets. [19]
Put together, that macro picture explains why gold can hover near record territory even on quiet trading days like today.
5. 2026 Gold Price Forecasts: Can $5,000 Become Reality?
Around December 7, a wave of fresh 2026 gold outlooks hit the wires. They differ in detail but are broadly bullish:
Institutional houses
- Goldman Sachs:
- New forecast for December 2026: $4,900/oz, up from $4,300, based on ongoing central bank purchases and the potential for more ETF and private‐sector inflows. [20]
- World Gold Council (WGC):
- In its “Gold Outlook 2026: Push ahead or pull back” released this week, WGC says gold’s 60%+ rally in 2025 and 50+ all‑time highs set the stage for a “high‑base, high‑volatility” 2026. [21]
- It sketches scenarios ranging from moderately bullish to strongly bullish, alongside a bearish case if global growth surprises strongly and safe‑haven demand fades. [22]
- State Street / SPDR Gold:
- A 2026 outlook from State Street Global Advisors suggests the 2025 rally—the strongest since 1979—will likely moderate into a consolidation band around $4,000–$4,500, but notes that structural forces could still carry gold to $5,000/oz over time. [23]
- J.P. Morgan:
- J.P. Morgan’s commodity research team writes that although gold has already set new records in 2025, it still sees “further upside through 2025 and 2026”, supported by softer policy and strong investment demand. [24]
Broad media and research commentary
- An Investopedia round‑up of analyst calls reports that a significant share of surveyed institutions see gold at or above $5,000 per ounce by 2026, citing fiscal and geopolitical risks, heavy central‑bank buying, and structural dollar weakness. [25]
- A collection of 2026 forecasts compiled by Discovery Alert and other outlets likewise shows a cluster of targets between $4,500 and $5,000, with some more aggressive models pointing higher. [26]
- Purely technical/quant sites go further: one long‑term model projects gold rising from around $4,227.70 today to roughly $6,840 by 2030, implying a gain of over 60% in five years. [27]
Important: These are forecasts, not guarantees. They’re based on assumptions about interest rates, inflation, geopolitics, and investor behavior—all things that can change quickly.
6. Technical Picture: Support at $4,180–$4,200, Resistance Near $4,300+
Chart‑focused analysts are watching a narrow but important band:
- TradingView commentary notes that gold “blew past mid‑term resistance at $4,180” recently and is now testing the $4,300 region as the next major resistance zone, with $4,215 seen as an important short‑term pivot. [28]
- MarketPulse describes bullion as “buoyant above $4,000”, looking for stronger support just above that level as pullbacks are repeatedly met with dip‑buying. [29]
- Over the last few sessions, retracements toward $4,180–$4,200 have tended to attract buyers rather than trigger a deeper sell‑off, consistent with a market that is overbought but not yet exhausted. [30]
In simple terms:
- Support zone: Around $4,000–$4,180
- Immediate resistance: Around $4,300–$4,380 (recent record area)
A decisive break above resistance—especially if accompanied by a dovish Fed tone—would strengthen the case for those $4,500–$5,000 2026 scenarios.
7. Retail Gold Rates Today: India, Asia and Beyond
Beyond global spot prices, local retail markets also reflect today’s elevated gold environment:
- India
- GoodReturns lists 24‑karat gold at ₹13,015 per gram nationwide today, flat versus the previous session after a sharp earlier rise, while 8 grams of 24K trades around ₹104,120. [31]
- City‑wise updates show Mumbai and other metros quoting similar levels, with local taxes and premiums accounting for small differences. [32]
- In Delhi, local reports show 10 grams of 22K gold at ₹119,450 and 10 grams of 24K at ₹130,300 on December 7, reflecting both global prices and domestic demand factors. [33]
- Vietnam
- A Vietnamese market update today notes that gold rings dropped by around 1.1 million VND per tael, closing the week lower as local investors lock in profits while still watching the Fed. [34]
- Bangladesh and other Asian markets
- Regional bulletins show gram‑ and ana‑based quotes reaching new highs in local currency terms, mirroring global dollar‑denominated prices. [35]
These local snapshots underscore a key point for December 7: even where prices are off the week’s highs, gold remains historically expensive in almost every major currency.
8. How 2025 Set the Stage for Today’s Price
Today’s quiet consolidation makes more sense when seen in the context of 2025’s extraordinary rally:
- WGC data show gold is up around 60–61% year‑to‑date, making 2025 the strongest year since 1979. [36]
- Economic Times and other outlets note 50+ fresh all‑time highs this year, driven by a combination of geopolitical risk, a weaker dollar, and safe‑haven flows. [37]
- Central‑bank buying has made 2025 the fourth‑strongest year this century for official‑sector accumulation, with net purchases of around 254 tonnes through October. [38]
- Retail interest has surged too: jewelers in markets like India and the U.S. are highlighting buy‑back programs and educating customers about how to monetize higher prices, reflecting strong secondary‑market activity. [39]
Against that backdrop, a sideways Sunday around $4,200 looks less like indecision and more like the market catching its breath after a historic sprint.
9. What Gold Traders Are Watching Next
As of December 7, 2025, the gold market’s near‑term focus is tightly clustered around a few catalysts:
- The December Fed Meeting
- Markets are pricing in a high probability of at least one rate cut, with traders debating whether the tone will be “one‑and‑done” or the start of a more aggressive easing cycle. [40]
- A more dovish‑than‑expected Fed could trigger a break above the $4,300–$4,380 resistance zone, while a hawkish surprise risks a pullback toward $4,000.
- U.S. inflation and employment data
- Several recent commentaries stress that upcoming PCE inflation and labor figures will shape expectations for how soon and how far the Fed can cut, making them key for gold’s short‑term direction. [41]
- Geopolitics and cross‑asset flows
- Persistent tensions in several regions, alongside episodes of market stress and liquidity concerns, are keeping safe‑haven demand elevated, according to multiple research notes. [42]
- At the same time, some investors are balancing gold exposure with crypto and other risk assets, as newer analysis highlights how bitcoin is increasingly being considered alongside gold in reserve and portfolio discussions. [43]
10. Key Takeaways for December 7, 2025
If you only remember a few points from today’s gold‑price coverage, make them these:
- Gold price today: Around $4,200 per ounce, little changed on the day, after a week of profit‑taking and range‑bound trade. [44]
- 2025 performance: Up roughly 60% year‑to‑date, with more than 50 new all‑time highs, marking its strongest year since the late 1970s. [45]
- Big drivers: Expectations of Fed rate cuts, large fiscal deficits, and robust central‑bank buying, led by emerging‑market institutions like the PBOC. [46]
- 2026 forecasts: Most institutional houses see gold averaging somewhere between $4,000 and $4,500, with upside cases toward $4,900–$5,000 if central‑bank and ETF demand stay strong. [47]
- Risk: A more hawkish Fed, faster‑than‑expected growth, or fading safe‑haven flows could trigger sharp corrections—something the WGC explicitly warns about in its 2026 outlook. [48]
None of this is a prediction of what you personally should do—just a synthesis of today’s gold‑price news, forecasts and analysis as of December 7, 2025. Always consider your own risk tolerance and, if needed, consult a qualified financial advisor before making investment decisions.
References
1. www.investing.com, 2. www.gold.org, 3. www.jmbullion.com, 4. www.investing.com, 5. www.investing.com, 6. www.gold.org, 7. www.reuters.com, 8. www.reuters.com, 9. energynews.oedigital.com, 10. www.reuters.com, 11. www.gold.org, 12. www.reuters.com, 13. www.theedgesingapore.com, 14. www.reuters.com, 15. www.reuters.com, 16. sprott.com, 17. sprott.com, 18. www.businessinsider.com, 19. www.businessinsider.com, 20. www.reuters.com, 21. www.gold.org, 22. www.gold.org, 23. www.ssga.com, 24. www.jpmorgan.com, 25. www.investopedia.com, 26. discoveryalert.com.au, 27. walletinvestor.com, 28. www.tradingview.com, 29. www.marketpulse.com, 30. www.reuters.com, 31. www.goodreturns.in, 32. english.mathrubhumi.com, 33. www.thehansindia.com, 34. vietbao.vn, 35. www.probashirdiganta.com, 36. www.gold.org, 37. m.economictimes.com, 38. www.gold.org, 39. www.delawareonline.com, 40. www.reuters.com, 41. energynews.oedigital.com, 42. sprott.com, 43. www.nationthailand.com, 44. www.investing.com, 45. www.gold.org, 46. www.reuters.com, 47. www.reuters.com, 48. www.gold.org
