Precious Metals News
Gold fell 1.4% on October 29, 2026, after stronger U.S. inflation data reinforced expectations of another Federal Reserve interest rate increase in December. Spot prices dropped to $4,008.76 per ounce, while silver, platinum and palladium also declined amid concerns over interest rates and energy costs.
Gold struggled to sustain its recovery after the Federal Reserve held interest rates steady on October 28, 2026. Falling Treasury yields and a weaker dollar failed to generate strong buying interest, while unusual short-term market correlations highlighted uncertainty around gold's $4,000 support level.
Gold rebounded above $4,000 on October 27 as retail investment demand strengthened in China despite selling by North American gold ETFs. Silver touched an 11-month low of $52.68 per ounce, while the gold-to-silver ratio climbed to 74.3.
Gold fell 4.2% during the week ended October 23, with the LBMA Gold Price PM reaching $4,013 per ounce. World Gold Council data showed ETF outflows concentrated in North America, reduced futures positioning and growing investor preference for U.S. Treasuries ahead of the Federal Reserve's policy decision.
Gold recovered above $4,000 per ounce on October 26 as lower crude oil prices eased inflation concerns ahead of the Federal Reserve's policy meeting. Spot bullion gained 0.6%, while December futures settled higher. Silver and palladium advanced, but platinum declined to its lowest level since November 2025.
StoneX analyst James Stanley examines gold's divided technical outlook, identifying support around $4,074 and $4,109–$4,120, with resistance near $4,190–$4,200. The October 19 analysis highlights the tension between gold's longer-term trend and short-term weakness. Subsequent trading pushed spot gold below $4,000 on October 23.
Gold fell to a three-month low near $4,058 per ounce as higher oil prices, renewed geopolitical tension and another selloff in Asian technology shares pressured precious metals. Platinum also hit a three-month low, while palladium fell to its weakest level since June 2025.
India’s gold market is showing stronger seasonal demand as jewellery orders improve and ETF inflows reach a seven-month high. Lower September prices have supported buying, although historically elevated gold prices continue to limit physical volumes.
China’s central bank accelerated gold purchases in the third quarter, adding 63 tonnes, while gold-backed ETF holdings reached a record 304 tonnes. Physical demand remained weaker as jewellery consumption weighed on wholesale gold demand.
Gold held near $4,164 per ounce on October 19 as lower oil prices eased some inflation concerns ahead of the Federal Reserve’s next policy meeting. Traders largely expect rates to remain unchanged this month but continue to price a possible December increase.
Gold rebounded more than 1% as the U.S. dollar and Treasury yields retreated, but FOREX.com analyst Fawad Razaqzada remains cautious on whether a durable bottom has formed, with key support clustered around $4,070-$4,100.
Gold rebounded more than 1% on October 15 as the U.S. dollar retreated and Treasury yields fell to a three-week low. The recovery follows a failed breakout and sharp post-CPI selloff, leaving $4,100 support and $4,200 resistance as the next key levels.
Gold ended last week at $4,186 an ounce, down just 0.1%, as lower bond yields and continued ETF buying offset a firmer dollar and reduced futures positioning. Rising government debt concerns are emerging as another important source of investment demand.
U.S.-listed gold ETFs now account for less than half of global holdings as Asian investors take a larger role in bullion demand. The shift comes as gold extends a six-week correction and speculative COMEX positioning continues to decline.
Gold prices are showing signs of stabilisation following a 14% decline from their August high, despite the US dollar index reaching an 18-month high.
Gold briefly climbed above $4,200 an ounce on October 12 as lower oil prices and hopes for reduced energy-supply pressure eased inflation concerns. The rally later reversed, with bullion falling below $4,180 as the dollar strengthened and oil rebounded ahead of key U.S. inflation data.
Central bank gold demand has supported the market even as higher yields have hammered the metal lower.
Global physically backed gold ETFs attracted approximately $10 billion in September, lifting third-quarter inflows to a record $31 billion. World Gold Council data showed holdings rising 67 tonnes to a record 4,256 tonnes even as lower gold prices pushed total assets under management down 7%.
Gold rebounded from a two-month low as the dollar eased from an 18-month peak. Spot bullion rose 0.5% to US$4,132.66 per ounce, while traders continued to assess the likelihood of another Federal Reserve interest-rate increase before year-end.
Deutsche Bank says silver could move into surplus as early as 2027 as photovoltaic demand weakens, metal thrifting accelerates and inventories rebuild. The bank expects spot silver to average about $70/oz in Q2 2027, while the Silver Institute still forecasts a 46.3 million-ounce deficit for 2026.
Global central banks reported net gold purchases of 39 tonnes in August 2026, taking publicly reported year-to-date buying to approximately 170 tonnes. China led the month with 20 tonnes, while Poland remained the largest reported buyer of the year with 98 tonnes added.
Former senior CIA official David J. Rush pleaded guilty to wire fraud in a scheme that caused approximately $194 million in government losses. FBI agents recovered 298 gold bars costing the government about $46 million, more than $2.1 million in cash and numerous luxury assets.
However, market sentiment improved later after softer U.S. August PCE inflation and weaker payroll figures reduced expectations of additional Federal Reserve tightening.
Gold fell 0.9% to $4,153 per ounce as elevated Treasury yields and a stronger dollar outweighed sharply lower expectations for an October Fed hike. Managed Money longs declined for a fifth week, while gold-backed ETFs continued attracting investment.
HSBC cut its 2026 average gold forecast to $4,490/oz from $4,560 and lowered its 2027 average to $4,825. The bank expects high yields, oil prices and dollar strength to pressure bullion near term but still sees structural support from central-bank demand, fiscal concerns and reserve diversification.