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Gold prices today, Thursday, October 29, 2026: Gold prices hardly budge after Fed holds rates steady

December gold futures opened at $4,081.40 per troy ounce on Thursday, October 29, 2026, up 0.7% from Wednesday's close, but fell to $4,040.50 by 7:04 a.m. ET. Opening prices have ticked higher each day this week, but gold has shown no significant upward move after the Fed held rates steady at its two-day meeting, a decision widely anticipated. Attention now turns to Middle East tensions, energy prices, and whether the Fed will raise rates again after its December meeting. CME Group data shows an 85.6% chance the FOMC will raise rates by 25 basis points before year-end. Compared with a week ago, the opening price is down 1.9%; versus a month ago, down 1.7%; and versus a year ago, up 2.9%.

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