Gold rises as lower oil eases inflation worries before Fed meeting
Spot gold rose 0.2% to $4,172.87 an ounce as oil retreated from a five-month high, easing inflation concerns ahead of the Fed meeting, Reuters reports.
- published
- in the api
- on the website
on the website stories appear 15 minutes after publication, in the api at once. connect the api →
what happened
Gold prices edged higher on Monday as lower oil prices eased inflation worries ahead of next week's Federal Reserve policy meeting, where rates are widely expected to stay unchanged, Reuters reported. By 1109 GMT spot gold was up 0.2% at $4,172.87 an ounce, compared with $4,171.65 at 0853 GMT.
Oil slipped from a five-month high after US President Donald Trump waived sanctions and tariffs on Russia, a move that may lead to more Russian fuel exports. Spot silver gained 1.2% to $57.6704 an ounce, platinum rose 1.3% to $1,652.22 and palladium climbed 2% to $1,134.25.
Investors are now looking ahead to the Fed meeting and the PCE inflation data. UBS analyst Giovanni Staunovo expects the Fed to hold rates steady.
why it matters
The Fed decision itself may matter less for gold than incoming inflation and jobs data. According to CME FedWatch, traders see a 15% chance of a rate hike this month and 89% for a December increase. Higher rates reduce the appeal of non-yielding gold, which partly offsets its role as an inflation hedge.
market impact
Gold and precious metals: easing inflation worries from lower oil support prices ahead of the Fed decision
tags
instruments
sources
- Gold edges up as oil retreat lends support; Fed decision in focus — Reuters, 19 October 2026 at 09:15 UTC
- Gold edges up as oil retreat lends support; Fed decision in focus — Reuters, 19 October 2026 at 11:35 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
on the website stories appear 15 minutes after publication, in the api at once.
get stories in real time ↗