Gold prices declined amid cautious anticipation of the Federal Reserve meeting and US inflation data - صوت الإمارات

AI desk brief

Gold fell 0.3% to $4,126.84/oz and December COMEX gold slipped 0.3% to $4,146/oz as markets turned cautious ahead of next week’s Fed meeting and US PCE inflation data. FedWatch currently prices an 83% chance of rates staying unchanged at the October 27-28 meeting, while the market sees a 94% probability of a hike at the December meeting, reinforcing the headwind from higher real rates and opportunity cost.

Silver also weakened 0.7% to $56.69/oz and palladium lost 0.7% to $1,112.08/oz, while platinum was little changed at $1,639.65/oz. The near-term setup keeps precious metals sensitive to any surprise in PCE or Fed guidance on the 2% inflation target.