Gold gains on softer dollar, but heads for weekly fall
Spot gold rose 0.1% to $4,175.34 an ounce, but traders priced in a 90% chance of a December rate hike, the CME FedWatch Tool showed.
- On Friday, October 16, 2026, spot gold traded near US$4,168 an ounce, remaining almost unchanged, while the GLD gold fund fell 0.18%.
- Producer price data released last Thursday showed the largest increase in four years in September, following Wednesday’s consumer price report that showed accelerating price pressures.
- Newmont, a gold miner, gained 2.43%, while spot silver fell about 0.8%. The Nasdaq’s 2.14% decline late in the week pushed investors toward safe-haven assets.
- Prediction markets currently indicate an 82.8% probability of the metal touching US$4,200, compared to a 70.0% chance of a decline to US$4,100, with US$315,782 traded across the event.
- "Gold prices are likely to edge lower," Hamad Hussain, Capital Economics economist, said. He also noted that "fears around the end of the boom prove to be temporary.
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The Hindu Business LineGold gains on softer dollar, but heads for weekly fall
Gold edged higher on Friday as the dollar weakened, but the metal was still on track for a small weekly loss as investors weighed signals from the Federal Reserve on interest rates. Spot gold rose 0.2% to $4,177.82 per ounce by 0433 GMT, but was down 0.5% so far in the week. US gold futures for December delivery climbed 0.7% to $4,199.10. “Gold has been trapped in a range of $4,221, with the bottom of the range at $4,075 being met earlier this w…
Accelerating inflation in the US and expectations that the Fed may continue raising interest rates have put pressure on gold prices. Spot gold is headed for a 0.7% weekly loss, while the probability of a December rate hike is priced in at 90% in the markets. Silver, platinum, and palladium are also poised to end the week with losses.
Gold prices remained broadly flat on Friday, heading for a weekly decline as investors weighed the prospect of further interest rate hikes by the Federal Reserve… Gold heads for a weekly decline after Fed rate hike and inflation data - NAVAL TRADE
Losses of 0.7% on a weekly basis.
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- 80% of the sources lean Right
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