Gold Heads for Weekly Loss as Energy Costs and Rate-Hike Bets Weigh
Gold is set for a weekly drop of more than 3.5% on inflation worries. New York futures slipped to $4,026 a troy ounce, Market Talk reported.
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what happened
According to Market Talk, gold is on track for a weekly decline of more than 3.5%. Higher energy prices are stoking worries about inflation and possible interest-rate increases. In early European trading, New York futures fell 0.8% to $4,026 a troy ounce.
Traders broadly expect the Federal Reserve to keep rates unchanged at its next meeting, but the FedWatch tool shows nearly an 80% chance of a hike in December. MUFG's Soojin Kim said that rising inflation combined with selling to cover losses in stock and bond positions is a negative mix for gold in the short term.
Brent crude climbed above $114 a barrel, its highest since May, amid fresh tensions in the Middle East. The 10-year French OAT yield reached 5.07%, while France's composite PMI dropped to 48.4 in October, signaling contraction in business activity.
why it matters
Gold pays no interest, so higher bond yields and expectations of tighter policy reduce its appeal. For the euro, the spread between French and German bond yields matters: ING's Francesco Pesole said that a gap above 200 basis points could bring renewed currency losses.
market impact
Gold: rising rate and inflation expectations pressure the metal; EUR/USD weighed by French debt concerns
tags
instruments
sources
- Gold Falls as Energy Prices Rise Higher — Market Talk, 23 October 2026 at 07:31 UTC
- Gold Falls as Energy Prices Rise Higher — Market Talk, 23 October 2026 at 07:31 UTC
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