Gold falls 0.6% to $4,115.50 as traders wait on Fed meeting
Traders put a 16% chance on a rate increase at the Oct. 27-28 meeting and a 90% chance of one in December, according to CME's FedWatch Tool.
By The Carnegie Standard Staff
· 1 min read
Spot gold fell 0.6% to $4,115.50 an ounce in early Asian trading on Oct. 22, 2026, as investors positioned for the US Federal Reserve's policy meeting on Oct. 27 and 28, Reuters reported. The metal had touched $4,104.33 on Oct. 21, its weakest level since Oct. 15. US gold futures for December delivery slipped 0.4% to $4,132.30.
Traders see a 16% chance the Fed raises rates at the October meeting but are pricing a 90% probability of an increase in December, according to CME's FedWatch Tool. Nearly all economists in a Reuters poll expect the central bank to hold in October and move in December, with policymakers signaling patience despite persistent inflation. Higher rates generally pressure gold because bullion pays no interest.
Investors are also awaiting Personal Consumption Expenditures data, the inflation gauge the Fed watches against its 2% target.
Other precious metals also declined: spot silver lost 1.1% to $57.33 an ounce, platinum fell 1.1% to $1,609.95 and palladium dropped 0.8% to $1,078.52.
This story was first reported by The Business Times.
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