Business · Markets · 3 hrs ago
Gold holds above $4,000 ahead of US Federal Reserve decision
Gold held above $4,000 an ounce on Wednesday as investors waited for a US Federal Reserve interest-rate decision.
Buyers took advantage of recent price declines, helping gold retain a 1.1% gain from the previous session.
A sell-off in artificial intelligence stocks had pushed investors to sell gold to cover losses elsewhere, taking its price to its lowest level since mid-July.
Physical demand, including increased buying by Chinese households, helped limit the fall when prices dipped below $4,000 in recent days.
The Fed was widely expected to keep interest rates unchanged, but traders were still weighing the possibility of a rate increase before year-end.
Higher rates can weigh on gold because it does not pay interest.
Investors will watch Fed Chair Kevin Warsh’s comments and US inflation data for clues about the central bank’s next steps; the US personal consumption expenditures inflation figures for September were due Thursday.
Gold held above $4,000 an ounce on Wednesday as investors awaited the Federal Reserve’s interest-rate decision.
Spot gold retained a 1.1% gain from the previous session, supported by buyers taking advantage of lower prices.
Gold had recently fallen below $4,000, with selling linked to losses in other assets and demand from physical buyers helping limit the decline.
The Fed was widely expected to leave rates unchanged, while traders continued to price in a possible rate increase before year-end.
US September personal consumption expenditures inflation data was due on Thursday and could offer clues about the Fed’s December policy.
- Who
- Gold investors and buyers, with traders awaiting the Federal Reserve’s decision.
- What
- Gold stayed above $4,000 an ounce, retaining a 1.1% gain from the previous session.
- When
- Wednesday, October 28, 2026, ahead of the Fed’s decision later that day.
- Where
- Not stated
- Why
- Buyers took advantage of lower prices, while investors awaited the Fed’s interest-rate decision.
This story does not have two clearly opposing sides.
A selloff in artificial-intelligence-related stocks helped push gold lower as investors sold it to cover losses elsewhere.
Gold reached its lowest level since mid-July, according to Bloomberg HT.
Gold held above $4,000 an ounce as investors awaited the Fed’s interest-rate decision later that day.
US September personal consumption expenditures inflation data was scheduled for release.
- Gold price threshold
- Above $4,000 per ounce
- Previous-session gain
- 1.1%
- Al Eqtisadiah spot price
- $4,063.80 per ounce at 8:25 a.m. Singapore time
- Bloomberg HT spot price
- $4,061.96 per ounce
- Silver price
- $54.41 per ounce
- US inflation data
- September personal consumption expenditures figures due Thursday
3 sources
What people are saying
Near-term risks still tilt toward more sideways moves, but demand conditions should provide some support once liquidation pressure eases.
Gold needs a combination of lower oil prices, easing inflation, a weaker US dollar and lower bond yields to regain more sustainable upward momentum.