Fed Rate Cut Looms: Two ASX Gold Miners Positioned to Benefit

ASX Gold Outlook Ahead of the Fed Rate Cut

A Fed rate cut is coming, and gold stocks stand to benefit. But after a 60% rally in bullion prices this year, the easy gains are behind us. That doesn’t mean opportunity has vanished; it just means investors need to be more selective. With the Fed meeting on December 9-10, now is a good time to look at which ASX gold miners are best positioned for what comes next.

What are the Best ASX Gold stocks to invest in right now?

Check our buy/sell tips

Why a Fed Rate Cut Helps Gold, And Why Caution Is Warranted

Here’s the simple version: when interest rates fall, holding gold becomes more attractive. Lower rates mean less return from bonds and savings accounts, so investors often shift money into gold as an alternative store of value.

The catch is that markets have already priced in this rate cut. When everyone expects something to happen, the actual event sometimes disappoints. We’ve seen this pattern before: “buy the rumour, sell the news.” There’s a real chance gold pulls back after Wednesday, even if the Fed delivers exactly what investors expect.

That said, the bigger picture still looks supportive. The US labour market is softening, inflation is cooling, and central banks around the world continue buying gold at elevated levels. These trends don’t reverse overnight.
Our view: the structural case for gold remains strong heading into 2026, but expect some volatility in the short term.

Two ASX Gold Producers Worth Considering

Northern Star Resources (ASX: NST)

Northern Star is the biggest name in Australian gold, with major operations in Western Australia and Alaska. The company sits on a healthy pile of cash that gives management plenty of flexibility.
The stock has climbed sharply this year, but analyst targets still suggest meaningful upside. A recent long-term power deal at Kalgoorlie should help keep costs in check for years to come.

Our take: Northern Star is the safest way to gain gold exposure on the ASX. Not the cheapest, but for investors wanting quality and scale, it’s hard to go past.

Regis Resources (ASX: RRL)

Regis is a mid-sized producer with solid assets in Western Australia and a stake in the Tropicana Gold Mine. The company carries no debt and holds substantial cash, putting it in a strong financial position.
The stock trades cheaper than peers, partly due to uncertainty around a New South Wales project that hit regulatory roadblocks. But the core business continues performing well.

Our take: Regis offers better value than Northern Star but comes with a higher risk. If sentiment improves after the Fed decision, this one could move quickly.

What Should Investors Do?

If you’re comfortable with short-term volatility, buying selectively before Wednesday makes sense. If you’re already holding gold stocks, stay the course; the longer-term outlook remains positive.
New investors might consider a split approach: buy part of your position now, and keep some cash ready in case prices dip after the Fed announcement. The biggest risk is a hawkish surprise from the Fed, which could push gold down by 5–10%. Powell’s comments will be critical to watch.

Bottom line: Gold’s bull run isn’t over, but the easy money has been made. Stick with quality producers and don’t chase momentum.