Gold Closes Near $4,016 After Fed Cut as U.S.–China Tariff Deal Tempers Gains

Overview

• Comex December gold settled up 0.38% at $4,015.9 on Oct. 30 as investors digested a quarter‑point Federal Reserve rate cut and a cautious tone from Chair Jerome Powell that capped upside.
• The contract had fallen 0.91% to $3,983.1 on Oct. 28 before rebounding 0.44% to $4,000.7 on Oct. 29, reflecting volatile trade around the $4,000 level.
• ISTOÉ reported that the Trump–Xi meeting in South Korea produced an agreement that reduced some U.S. tariffs on China, easing safe‑haven demand for gold.
• ING highlighted that recent price weakness tracked renewed outflows from gold‑backed ETFs, including the largest weekly outflow since May 2025.
• The World Gold Council said gold demand hit a record in the third quarter, up 3% year over year by volume with a 44% rise in value, while Bank of America noted overbought positioning and projects $3,800 for Q4 2025 and $5,000 next year.