# Precious Metals Talking points 103025: Fed; cut as expected; QT to halt; don't count on a December cut

> StoneX's market note covers the October 29 Fed decision: a 25bp cut to 3.75%-4.00% and an end to QT from December 1. It says bond markets priced roughly a 70% chance of a December cut, and Powell said a further cut is far from certain.

- Date: 2025-10-30 · published 2025-10-30T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/22322-precious-metals-talking-points-103025-fed-cut-as-expected-qt-to-halt-don-t
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower odds of further cuts keep real yields and the dollar firm, which weighs on precious metals and can cap broader commodity demand. Gold is not in the feed symbol list.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-03-01 | [COMMENTARY: Specter of Warsh Fed sparks precious metals 'debasement' crash](https://feedsoft.ai/events/20507-commentary-specter-of-warsh-fed-sparks-precious-metals-debasement-crash.md) | +1.4% | +2.6% |
| DXY | 2025-11-27 | [US Dollar Holds Steady Near 1-Week Low as Markets Price in December Fed Cut \| Investing.com](https://feedsoft.ai/events/22146-us-dollar-holds-steady-near-1-week-low-as-markets-price-in-december-fed-cut.md) | -0.5% | -1.5% |
| DXY | 2017-11-01 | [Fed signals December hike on track as Trump mulls next chair – Press Enterprise](https://feedsoft.ai/events/67903-fed-signals-december-hike-on-track-as-trump-mulls-next-chair-press-enterprise.md) | +0.1% | -1.2% |
| DXY | 2019-10-31 | [Trump bets on Fed cuts to help the dollar. Don't count on it](https://feedsoft.ai/events/56774-trump-bets-on-fed-cuts-to-help-the-dollar-don-t-count-on-it.md) | -0.1% | +0.8% |
| DXY | 2026-02-24 | [US Dollar Firms as Fed Minutes Temper Rate-Cut Expectations \| Investing.com](https://feedsoft.ai/events/20509-us-dollar-firms-as-fed-minutes-temper-rate-cut-expectations-investing-com.md) | +0.6% | +1.7% |

## Sources

- stonex.com: https://www.stonex.com/en/insights/precious-metals-talking-points-103025-fed-cut-as-expected-qt-to-halt-don-t-count-on-a-december-cut/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.