Gold Futures Rise on Softer Oil, With Focus on Fed
A facts-only brief, written by a local AI model from this article in The Wall Street Journal, October 26, 2026. It may contain mistakes, and it is not the article: the full story is at wsj.com.
New York gold futures climbed 0.5% to $4,027.40 per troy ounce during early European trading, aided by lower oil prices and anticipation of the Federal Reserve’s upcoming policy announcement. Soojin Kim, an analyst at MUFG, observed that the drop in oil helped curb inflation pass-through expectations, even though energy futures stayed high. She identified the FOMC decision as the next key driver, particularly if the Fed adopts a more hawkish stance. Market data from CME’s FedWatch tool indicates that participants largely anticipate the U.S. central bank will hold rates steady this week, while assigning a nearly 80% chance to a rate increase in December.
Background
- Spot gold remained flat at $3,994.88 per ounce in the early Asian session, staying just under the $4,000 mark.
- Konstantinos Chrysikos of Kudo’s noted that rising oil prices and Middle East tensions are renewing inflation worries and boosting expectations for further rate hikes.
- Elevated interest rates generally exert downward pressure on non-yielding assets such as gold.
Read the full article at wsj.com
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