Gold futures opened at $4,042.20 per troy ounce on October 23, 2026, down 0.4% and at their lowest since July 29 as oil prices surged. Brent crude closed at $113.49 a barrel the previous day and was at $110.21 early Friday, following Houthi strikes on Saudi oil infrastructure and reports of possible renewed U.S. airstrikes in Iran. Gold is down 3.6% over one week and 8% over one month, while CME FedWatch shows 91.7% odds the Fed holds rates next month. The article also surveys expert views on gold allocations, ranging from 0% to 20% of a portfolio.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
XAU/USD
▼ Likely negativeRelevance: high
| Market | Gold |
|---|---|
| Close on 10/22/2026 | 4,024.59 |
| Change that session | -2.82% |
PAXG/USDT
▼ Likely negativePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/22/2026 | 4,036.10 |
| Change that session | -2.23% |
XAUT/USDT
▼ Likely negativeTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/22/2026 | 4,030.01 |
| Change that session | -2.29% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Daily Gold Trading Report - Friday , October 23 , 2026
The Daily Gold Trading Report for October 23, 2026 puts spot gold near $4,004 after an overnight drop to the $4,000 area. Price sits below the 20-hour and 50-hour moving averages, and the report rates the bias as bearish, while the hourly RSI at 14.7 is deeply oversold, which is why the test of $4,000 produced a bounce. Key support is listed at $3,987 and $3,980, with resistance at $4,030, and the June lows near $3,950 are flagged as the next level to watch. The Fed is in its pre-meeting blackout ahead of the October 27 to 28 FOMC, with markets pricing a December hike at 88 to 90% on CME FedWatch and the 10-year Treasury yield near 5.00%. Brent touched $111.99, a five-month high, while the dollar index held near 101.6.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold gains , silver slips as oil prices rise , Fed rate hike expectations persist - Kitco AM Report
Spot gold edged up to about $4,136.70 an ounce (up 0.31%), while spot silver slipped to about $57.510 (down 0.64%) in early Wednesday U.S. trading. Inflation stayed firm, with September consumer prices up 3.7% annually and producer prices up 6.3%. Traders priced about an 83% chance the Fed holds rates at its Oct. 27-28 meeting and about a 94% chance of a higher rate by the Dec. 9 meeting. The 10-year Treasury yield fell to near 5.1% from above 5.3%, supporting gold, though the firm dollar and prospects for further Fed tightening limit gains. Brent rebounded above $110.00 a barrel after reports of more attacks on shipping in the Strait of Hormuz, where direct shipments remain about 33% below prewar levels.
- Gold Prices Fall for Third Day as Oil Surge Fuels Fed Rate Hike Fears
Spot gold slipped to $4,137.84 an ounce by 02:22 GMT, its third straight daily decline, while December futures fell 0.1% to $4,165.34. Brent crude stayed above $109 a barrel after hitting $110.70, a five-month high, on fears of Middle East supply disruptions following attacks on Saudi energy infrastructure that Yemen's Houthi group claimed. CME FedWatch showed markets pricing an 83% chance the Fed holds rates at its Oct. 27-28 meeting and 94% odds of a December rate increase. U.S. September CPI rose 3.7%, adding to inflation concerns. Spot silver gained 0.1% to $57.1325 an ounce and platinum rose 0.5% to $1,650.65.
- Wall Street doubts gold near - term strength , Main Street maintains bullish minority as central banks take center stage
Gold fell sharply over the week as rising oil prices, persistent inflation worries and expectations of further Federal Reserve tightening outweighed safe-haven demand. A technology-led equity selloff on Thursday triggered more liquidations and pushed spot gold back below $4,000 per ounce. Gold hit a weekly low of $3,975.10 per ounce, its lowest since early June, after trading at $4,164.69 on Sunday evening. The latest Kitco survey showed Wall Street pessimism rising while Main Street kept a more bullish minority view. Several analysts still see $4,000 as support, though others point to weak technical signals and thin liquidity, with daily volumes around 129,000 contracts.
- Gold price today 24/10: World gold plunges, breaking below the USD 4,000/ounce mark
On the morning of 24/10, world gold was quoted on Kitco at USD 3,995 an ounce, down USD 31 from the early morning of 23/10 and below USD 4,000 for the first time since mid-July. For the week, precious metals lost about 4%, the steepest weekly drop since June, as inflation worries and expectations that the Fed will keep policy tight weighed on prices. A tech-stock selloff could force investors to sell gold and silver to meet margin calls. Jesse Colombo said gold is testing support at USD 3,900–4,000 an ounce, while SJC gold bars were quoted at VND 139–142 million per tael at 6am, down VND 300,000 in both directions.
Related markets
Latest news
- Piero Cipollone: Interview with Milano Finanza
In an interview with Milano Finanza, ECB Executive Board member Piero Cipollone said payments are a strategic infrastructure and the digital euro would give Europe its own alternative, offering privacy like cash. He noted online payments in Italy grew from 6% of the total in 2019 to 24% in 2024, and two thirds of online card payments use non-European card schemes. He said small merchants can pay fees up to four times higher than large operators, and the digital euro would increase competition and, through legal caps on costs, help reduce fees. The ECB plans a pilot in 2027 with 36 market operators, seven of them Italian, and could roll out the digital euro as early as 2029 if the regulation is approved this year.
- If History Is Any Guide, This Cryptocurrency Is About to Go Parabolic in 2027
The article notes XRP is down 27% in 2026 and trades around $1.36, but argues it could go parabolic in 2027 if history repeats. XRP has had three such rallies in the past decade: from $0.006 to a $3.84 all-time high in the 2017–2018 cycle, from $0.22 to $1.95 in 2021, and from $0.50 to $3.40 in January 2025. The author attributes these moves mainly to shifts in investor sentiment and altcoin rallies rather than changes in fundamentals or new technology. The scenario described depends on new crypto legislation after the U.S. midterms and risk capital rotating into altcoins, though the author acknowledges that many things would have to go right.
- Eurozone records €16 . 1 billion trade deficit in August
The euro area recorded a goods trade deficit of €16.11 billion with the rest of the world in August 2026, reversing from a €1.70 billion deficit in August 2025, according to preliminary Eurostat estimates. Exports rose 9.90% to €227.70 billion, while imports climbed 16.70% to €243.80 billion. The deterioration was driven mainly by machinery and vehicles, whose balance swung from a €7.20 billion surplus to a €0.70 billion deficit, and by a wider energy deficit, which grew from €21.30 billion to €26.70 billion. Over January to August 2026, the euro area posted a €5.40 billion deficit, compared with a €90.90 billion surplus a year earlier. The wider EU recorded a €25.20 billion deficit in August 2026, against €7.50 billion a year earlier, with exports up 9.40% and imports up 18.20%.
- John Healey pledges to use budget to harness power of AI to bolster Britain security | Budget 2026
Chancellor John Healey pledged that Wednesday's budget will harness artificial intelligence to bolster Britain's security and prosperity against risks from the accelerating global technology race. The government will commit hundreds of millions of pounds to develop a "distinctively British" approach to AI, alongside the biggest-ever investment to guard against cyber risks and fresh funding for the AI Security Institute. The budget also allocates £10m a year to study how AI will reshape jobs and industry, and up to £300m in public-private investment for a new AI Biosecurity Lab. The budget comes as war in the Middle East sends energy costs soaring, with oil rising above $117 a barrel at one point and putting pressure on public finances and living costs. Healey also outlined investment in AI chip design in Edinburgh and a new AI Centre of Excellence in Manchester.
- FXStreet Reports UOB Sees USD / SGD Near 1 . 2750 If 1 . 2795 Holds
UOB strategists Quek Ser Leang and Lee Sue Ann see USD/SGD potentially easing to 1.2750 over one to three weeks if the pair stays below 1.2795, implying modest Singapore dollar strength. On Oct. 22, the pair traded between 1.2762 and 1.2785 and closed at 1.2774. MUFG said a roughly 16-basis-point drop in the US 10-year Treasury yield to below 5% weakened the dollar index by 0.2%, while Brent crude rose 4% to about $113 a barrel after attacks in Saudi Arabia. Singapore's headline consumer inflation was 2.2% year on year in September, with core inflation at 2.0%, and MUFG said headline inflation above 2.5% could reinforce expectations of a tightening bias at the MAS January 2027 policy meeting.
- Consumer sentiment nears historic low, University of Michigan study finds
A new University of Michigan report shows Americans are feeling worse about the economy as costs keep rising, from fuel to food. Joanne Hsu, director of the University of Michigan Survey of Consumers, said consumers currently feel as negative about the economy as they did at the height of post-pandemic inflation in 2022, with measurements near historic lows. She said tariffs and the war in Iran have contributed to consumer concerns about where inflation is headed and whether relief will come. Views on the outlook are mixed, with some people hopeful ahead of the midterms and others more cynical, while high costs are affecting personal lives.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.