December Gold futures fell by 0.46%, ending the week down 3.4% and marking the second consecutive weekly loss for the metal. This followed Gold futures having briefly hit a four-session high earlier in the day. Two Fed officials—Kansas City Fed President Jeffrey Schmidt and Dallas Fed President Laurie Logan—further dampened expectations for a rate cut at the central bank's December meeting, citing concerns about continued high inflation and price pressures. The idea of a new Fed rate cut cycle was a major driver of Gold futures to their recent record highs. Additionally, Treasury bonds rose for the second consecutive week on the yield side, which is bearish for gold, as the 2-Year, 5-Year, 10-Year, and 30-Year yields all rose for the week.