Gold eases as oil-driven inflation worries weigh - Yahoo Finance

AI desk brief

Gold was steady to slightly softer in Tuesday trade as investors waited for next week’s Fed meeting, with spot at $4,138.54/oz and December futures at $4,157.90/oz. The market is focused on inflation and rates: traders price a 92% chance of a December hike via CME FedWatch, while Bob Haberkorn of StoneX said Treasuries look more attractive than gold as a safety asset and flagged $4,000/oz as the key support level.

The article also notes gold is still down about 26.4% from its January record high of $5,594.82/oz and roughly 22% from pre-Iran war levels, underscoring how energy-driven inflation concerns earlier in the year boosted rate-hike bets. Next week’s US PCE inflation data and the Fed decision are the main catalysts; broader metals were mixed, with silver up 1.5%, platinum up 0.7% and palladium down 0.2%.