Gold Steadies After Five-Day Rally as Traders Digest US Data

Gold Steadies After Five-Day Rally as Traders Digest US Data

Robin Paxton and Preeti Soni

Tue, December 16, 2025 at 12:24 PM EST

1 min read

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(Bloomberg) -- Gold eased after a five-day gain, as investors digested the latest economic data that showed a continued cooling of the US jobs market.

US job growth remained sluggish in November and the unemployment rate rose to a four-year high, according to Bureau of Labor Statistics data out Tuesday. Still, traders refrained from boosting bets on further easing by the Federal Reserve in the near term as the US central bank is seen as less likely to put much weight on the data due to disruptions. Traders assigned a 20% chance of a rate reduction in January.

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Lower rates are typically a positive for gold, which doesn’t pay interest.

Investors will now focus on inflation data due Thursday and remarks from several Fed officials who are expected to speak throughout the week.

Gold has surged more than 60% this year and silver has more than doubled, with both metals on track for their best annual performances since 1979. The rallies have been underpinned by elevated central-bank buying and inflows into gold-backed exchange traded funds, in which holdings have risen every month this year except May, according to the World Gold Council.

Gold was little changed to $4,305.55 an ounce as of 12:21 p.m. in New York. It hit an all-time high of $4,381.52 an ounce in October. Silver declined 0.8%. Platinum and palladium both advanced. The Bloomberg Dollar Spot Index fell 0.2%.

--With assistance from Jack Ryan.