Gold price today, Thursday, October 8, 2026: Yearly gold gains evaporate after Fed says higher rates are expected - Yahoo Finance

AI desk brief

Gold December futures opened flat at $4,139.90/oz on Thursday and were last up modestly at $4,143.30, but the bigger signal is that prices are at their lowest since early August after Fed Governor Chris Waller said additional rate hikes are coming. Year-over-year gold gains have collapsed this week from 7.4% on Monday to 3.3% on Thursday as the market leans toward steady rates in October and possibly a December hike.

The article frames the move as a rates story rather than a bullion-specific supply/demand shift: higher-for-longer policy expectations are outweighing support from persistent inflation and Middle East unrest. That leaves gold vulnerable near term if Fed repricing continues.