Gold prices remained stable on Friday, September 19, 2025, as the Federal Reserve’s recent 25-basis-point rate cut and its cautious outlook on future monetary easing failed to fully align with investor expectations. Spot gold was virtually unchanged at $3,646.23 per ounce as of 0311 GMT, following a record high of $3,707.40 reached on Wednesday. U.S. gold futures for December delivery also held steady at $3,678.90. Analysts noted that while the market sentiment remains bullish, it has cooled slightly due to the Fed’s tempered messaging on inflation and future rate cuts. Kyle Rodda, an analyst at Capital.com, remarked, ‘The Fed didn’t deliver the dovish guidance needed for gold to push higher. The forecast of only one cut in 2026 has pushed up yields and the dollar, creating headwinds for gold.’ Traders are now pricing in a 92% likelihood of another 25-basis-point cut at the Fed’s October meeting. Lower interest rates typically reduce the opportunity cost of holding non-yielding bullion, supporting gold prices. Meanwhile, U.S. weekly jobless claims fell, signaling a softening labor market. In other precious metals, spot silver rose 0.7% to $42.11 per ounce, platinum gained 0.2% to $1,386.10, and palladium, up 0.6% at $1,157.49, was on track for a weekly decline of 3.3%.