Gold eased on Friday, headed for its steepest weekly decline in over four months as elevated oil prices bolstered higher-for-longer interest rate expectations, while investors awaited next week’s Federal Reserve policy meet.
Spot gold eased 0.2% to $4,016.27 per ounce by 0351 GMT, paring losses slightly after touching its lowest level since July 20 earlier in the session.
The metal has fallen 3.5% so far this week, which is poised to be its worst since June.
US gold futures for December delivery dropped 0.7% to $4,030.40.
Speculators are trying to defend the key $4,000 level for gold because a clean break below would signal that the market has stopped pricing rate relief and started pricing sticky inflation, elevated yields, and a stronger dollar, said Monte Safieddine.
Oil prices rose about 4% to a five-month high on Thursday after Houthi attacks on Saudi Arabia stoked concerns of further disruption to energy supplies.
Elevated energy prices bolster expectations of higher-for-longer interest rates by the Fed, increasing the opportunity cost of holding non-yielding bullion.
“Any further escalation on the geopolitical front risks pushing oil even higher.
Higher oil is reviving inflation fears, lifting yields, and delaying Fed easing. That is a difficult cocktail for bullion,“ Safieddine added.
Focus has turned to the Fed’s October 27-28 policy meeting and next week’s Personal Consumption Expenditures (PCE) data, a closely watched gauge as it is the central bank’s preferred inflation measure as it targets a 2% inflation rate.
Traders are largely expecting the central bank to leave interest rates unchanged next week, but expectations for an interest rate hike in December remain at 80%.
Meanwhile, analysts at HSBC cut their average 2026 platinum and palladium price forecasts in a research note on Thursday, citing shifting market fundamentals and investor liquidation.
Among other metals, spot silver slid 1% to $53.98 per ounce, platinum fell 0.1% to $1,568.58 and palladium steadied at $1,054.50.
All three metals were headed for weekly declines.
Gold eased on Friday, headed for its steepest weekly decline in over four months as elevated oil prices bolstered higher-for-longer interest rate expectations, while investors awaited next week’s Federal Reserve policy meet.
Spot gold eased 0.2% to $4,016.27 per ounce by 0351 GMT, paring losses slightly after touching its lowest level since July 20 earlier in the session.
The metal has fallen 3.5% so far this week, which is poised to be its worst since June.
US gold futures for December delivery dropped 0.7% to $4,030.40.
Speculators are trying to defend the key $4,000 level for gold because a clean break below would signal that the market has stopped pricing rate relief and started pricing sticky inflation, elevated yields, and a stronger dollar, said Monte Safieddine.
Oil prices rose about 4% to a five-month high on Thursday after Houthi attacks on Saudi Arabia stoked concerns of further disruption to energy supplies.
Elevated energy prices bolster expectations of higher-for-longer interest rates by the Fed, increasing the opportunity cost of holding non-yielding bullion.
“Any further escalation on the geopolitical front risks pushing oil even higher.
Higher oil is reviving inflation fears, lifting yields, and delaying Fed easing. That is a difficult cocktail for bullion,“ Safieddine added.
Focus has turned to the Fed’s October 27-28 policy meeting and next week’s Personal Consumption Expenditures (PCE) data, a closely watched gauge as it is the central bank’s preferred inflation measure as it targets a 2% inflation rate.
Traders are largely expecting the central bank to leave interest rates unchanged next week, but expectations for an interest rate hike in December remain at 80%.
Meanwhile, analysts at HSBC cut their average 2026 platinum and palladium price forecasts in a research note on Thursday, citing shifting market fundamentals and investor liquidation.
Among other metals, spot silver slid 1% to $53.98 per ounce, platinum fell 0.1% to $1,568.58 and palladium steadied at $1,054.50.
All three metals were headed for weekly declines.
| # | Наименование новости | Тональность | Информативность | Дата публикации |
|---|---|---|---|---|
| 1 | Gold extends gains on weak jobs data, lower oil prices | 0 | 7 | 02-07-2026 |
| 2 | Gold slips as oil gains strengthen case for elevated interest rates | 0 | 7.87 | 15-09-2026 |
| 3 | Gold rises to one-week high, heads for weekly gain on easing oil prices | 0 | 8.53 | 19-09-2026 |
| 4 | Gold eases after climbing over 1% in previous session | 0 | 11.49 | 16-10-2026 |
| 5 | Gold set for biggest weekly drop since early June on inflation, rate-hike worries | 0 | 7 | 18-07-2026 |
| 6 | Gold slips as oil rally keeps inflation, rate outlook on investors' radar | 0 | 5 | 15-07-2026 |
| 7 | Gold prices dip Rs 3,000/10 gram this week, silver plunges Rs 7,300/kg as oil rally raises rate hike bets. What’s next? | -1 | 7 | 17-07-2026 |
| 8 | Gold rises from two-week low ahead of US inflation data | 0 | 5 | 14-07-2026 |
| 9 | Gold faces key test from geopolitics and rates after a turbulent first half: World Gold Council | 0 | 7 | 02-07-2026 |
| 10 | Gold drops below $4,000 as ‘haven’ asset joins market sell-off | 0 | 17.17 | 23-10-2026 |