Spot gold prices increased to $4,165 per ounce on November 25, 2025, driven by expectations of a 0.25% rate cut by the Federal Reserve. This market sentiment shift followed remarks from John Williams, president of the Federal Reserve Bank of New York, suggesting potential for 'further adjustment' soon. Analysts highlight that gold often benefits from low-interest-rate environments, serving as a hedge against inflation and economic uncertainty. JPMorgan analysts forecast that gold prices could reach $5,055 per troy ounce by the fourth quarter of 2026.