Gold edges up as traders weigh a likely December rate rise

Spot gold rose to $3,915.31 per ounce on Friday, according to Asharq Al-Awsat, a gain of about 1 percent, after the metal had hit its lowest level since October 2025 on Thursday. Earlier Friday the price stood at $3,883.05 per ounce, up 0.2 percent. Gold still fell roughly 3.5 percent over the week. CME's FedWatch tool puts the chance of a 25-basis-point US rate increase at the December meeting at 89 percent, while the Economic Times reports a 14.5 percent chance of a 50-basis-point hike. Cleveland Fed President Beth Hammack said she does not think the Fed needs more aggressive hikes to counter still-high inflation.