Gold climbs as cheaper oil eases inflation worries before Fed meeting
Gold rebounded from a three-month low as falling oil prices tempered inflation concerns ahead of the Fed decision, Reuters reported.
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what happened
Gold prices rose on Monday after rebounding from the previous session's low, the weakest level in over three months. Spot gold gained 0.3% to $4,007.57 an ounce, while US December futures added 0.4% to $4,021.80. Reuters reported that lower oil prices eased inflation worries ahead of the Fed's decision due Wednesday. Silver fell 0.4% to $53.67 an ounce, platinum dropped 1% and palladium rose 0.4%.
Markets expect the Fed to hold rates after its September hike, but CME FedWatch shows an 82% chance of a December increase. Investors are also watching Thursday's PCE inflation data and the November 3 US midterm elections.
why it matters
Gold pays no interest, so higher rates raise the opportunity cost of holding it. If inflation expectations stay elevated, the metal's support will depend on how firm the Fed's signals are.
market impact
Gold: softer oil and Fed rate expectations drive the metal and US Treasury yields
tags
instruments
sources
- Gold rises as lower oil prices ease inflation fears ahead of Fed meeting — Reuters, 26 October 2026 at 13:47 UTC
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