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Gold Rises After Three-Day Selloff
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October 29, 2025
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October 29, 2025
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3:44Now PlayingPhillip Diehl, Former Director of the U.S. Mint, discusses gold's record run this year and where the commodity may go after a recent 3-day retreat.
Gold staged a partial recovery after a three-day selloff, with dip-buyers returning ahead of an expected interest-rate cut by the Federal Reserve.
Bullion advanced toward $4,000 an ounce, having lost more than 4% over the previous three sessions. Investors are penciling in a 25-basis-point reduction, although Fed Chair Jerome Powell is unlikely to offer much forward guidance. Lower borrowing costs tend to benefit non-interest bearing precious metals.
Gold has retreated sharply following a torrid rally that drove prices to a record above $4,380 an ounce last week. Technical indicators had shown the ascent had run too far, too fast — a move that coincided with reduced demand for havens amid signs of progress in US-China trade relations.
With Donald Trump and Chinese counterpart Xi Jinping due to meet on Thursday, the US president talked up the prospects for their summit, telling reporters he expects that there will be “a very good outcome for our country and for the world.”
Even after gold’s recent pullback, the metal is still up about 50% this year, supported by central-bank buying and the so-called debasement trade, in which investors avoid sovereign debt and currencies to protect themselves from runaway budget deficits.
The surge had drawn institutional and retail buyers to gold-backed exchange-traded funds — although outflows this week have dented some of that support. Investors withdrew a net $1 billion from State Street’s SPDR Gold Shares on Monday, the most since April, according to data compiled by Bloomberg.
The outflow came as total investor holdings of gold ETFs fell the most in six months.
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