On the COMEX, the metals division of the New York Mercantile Exchange (Nymex), gold futures expiring December closed up 1.27%, at US$4,218.3 per ounce. The precious metal advanced by 3.41% during the week and 5.56% during the month.
Market consensus again pointed to a cut in December after New York Region President John Williams indicated at the start of the week that he saw room to ease monetary policy. His position was echoed by San Francisco Federal Reserve Bank President Mary Daly and Bank Governor Christopher Waller. Speculation that White House economic advisor Kevin Hassett will be the next head of the agency also supported the possibility of lowering interest rates over the next year.