Gold Slips Below Key Support as Markets Await U.S. Inflation Data and Fed Guidance

Gold  |  2026-10-14 06:48:55   |   By

Meanwhile, European and US investors continued allocating funds to gold ETFs despite recent price weakness.

Summary
  • Gold prices edge lower amid market uncertainty
    The LBMA Gold Price PM declined 0.1% week-on-week to close at $4,186 per ounce on Friday. The decline extended gold's year-to-date loss to 4.2%, despite some support from lower bond yields.
  • ETF flows and futures positioning show mixed signals
    Global gold ETF inflows slowed during the week, while net long positions in COMEX gold futures declined. Chinese investors increased their bullish exposure, and European and US investors continued allocating funds to gold ETFs despite recent price weakness.
  • Economic data and geopolitical risks remain key drivers
    Investors are monitoring upcoming US inflation and economic activity data for clues about the Federal Reserve's policy direction. Middle East tensions, US-Russia energy arrangements, firm oil prices and concerns over government debt could influence gold's near-term performance.

SEATTLE (Scrap Monster): Gold prices edged lower last week as escalating geopolitical tensions, uncertain US monetary policy and concerns over mounting government debt weighed on investor sentiment, according to the World Gold Council’s Weekly Markets Monitor.

The LBMA Gold Price PM declined 0.1% week-on-week to close at US$4,186 per ounce on Friday, extending its year-to-date loss to 4.2%. Lower bond yields provided some support, but slowing gold exchange-traded fund (ETF) inflows limited the recovery.

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Global equities advanced during the week, while bond yields eased slightly. Oil prices stayed firm amid tensions involving the US, Iran and the wider Middle East, while the US dollar strengthened marginally. The above factors continued to keep inflation risks and the Federal Reserve’s policy outlook in focus.

According to the WGC report, global gold ETF inflows slowed. Net long positions in COMEX gold futures declined, while Chinese investors increased their bullish exposure in the yellow metal. Fiscal concerns also supported gold’s investment appeal. Meanwhile, European and US investors continued allocating funds to gold ETFs despite recent price weakness.

Markets are now awaiting US inflation and economic activity indicators. The uncertainty surrounding US-Russia energy arrangements and continuing Middle East tensions could remain important drivers of gold prices in the coming week.