Gold Prices Edge Lower as US Inflation Data Reinforces Fed Outlook
Traders priced in a 90% chance of a December rate hike after stronger US growth and inflation data pressured non-yielding bullion.
- On Friday, October 30, 2026, gold prices retreated following a drop of about 1.3% yesterday, with spot gold trading near US$4,010 as investor sentiment shifted amid expectations of further Federal Reserve rate hikes.
- Stubborn US inflation has fueled market expectations for additional interest rate increases from the Federal Reserve. Higher rates raise the opportunity cost of holding non-yielding bullion, dampening investor appeal.
- Mining sector equities underperformed the metal during Thursday's session, with the GDX fund dropping 3.12%. Large producers Agnico Eagle, Hecla, and Newmont lost 3.93%, 3.15%, and 1.86% respectively.
- Silver fell about 3.5% to roughly US$52 yesterday, while traders on the Polymarket platform placed a 12.5% probability on the metal touching US$54 at some point in October.
- Economic growth in the US hit an annual rate of 3.4% in the third quarter, beating the 3.2% forecast. This robust expansion maintains pressure on the Federal Reserve regarding future monetary policy adjustments.
32 Articles
32 Articles
Business Recorder
The Hindu Business LineGold slips as higher oil, US inflation data bolster Fed hike bets
Gold prices slipped on Friday as higher oil prices and robust US inflation data strengthened the case for another Federal Reserve interest rate hike later this year. Spot gold was down 0.5% at $4,000.54 per ounce by 0511 GMT, while US gold futures for December delivery dropped 0.5% to $4,010.10. Bullion was on track for a second consecutive monthly decline. “Gold’s slide is asking serious questions of technical support around the $4,000 level. D…
The price of gold in Asian dealings fell today Friday, after falling by more than one percent at the previous meeting, with expectations of higher American interest rates growing against the backdrop of continued high inflation.
The Economic Times
Gold prices edge lower as US inflation data reinforces Fed outlook
Gold prices fell in early Asian trading, reflecting a decline of over 1% from the previous session. Spot gold is currently valued at $4,006.06 per ounce, while US gold futures have dipped to $4,018.50. Heightened inflation worries have raised fears of a potential interest rate hike by the Federal Reserve in December.
Gold slides as higher US inflation reinforces Fed tightening bets
Future gold contracts closed this Thursday (29) in a slight fall and continue to be negotiated in a restricted price range, slightly above the $4000 level, after the Federal Reserve (Fed) maintained unchanged interest and gave little sign of the next steps in monetary policy. The asset was unable to capitalize with the fall of the dollar, Treasury revenues and the aversion to the risk that dictates the direction of the markets today. At Comex, t…
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