Gold Prices Today: Gold (XAU/USD) extends its intraday decline on Thursday as the latest US Personal Consumption Expenditures (PCE) inflation data reinforce expectations of a Federal Reserve (Fed) rate hike in December after the US central bank held interest rates steady at its October meeting. At the time of writing, XAU/USD trades around $4,022, down 1.11% on the day.
Gold Holds Key Support Ahead of Fed Rate Decision
Gold (XAUUSD) price outlook: Gold prices are moving cautiously around the important $4,000 level as investors wait for the US Federal Reserve’s upcoming interest-rate decision. The precious metal has managed to stabilise for the third consecutive session after suffering a sharp decline last week. Gold fell more than 4% during the week, marking its biggest weekly loss in around four months and touching its lowest level since mid-July.
Fed Rate Decision October 2026: Hike or Hold?
Fed Rate Decision October 2026: The US Federal Reserve is widely expected to keep interest rates unchanged at its October 2026 policy meeting, according to Bloomberg and other market reports. However, persistent inflation has kept the possibility of another rate hike alive, particularly in December.
Gold Midterm Forecast: Key Support and Resistance Levels
Gold Midterm Forecast: Gold (XAU/USD) is trading near an important support zone between $3,940 and $3,912. This range is crucial for understanding the midterm direction of gold prices. As long as gold holds above this support area, the overall midterm outlook remains positive, and the possibility of further upside movement continues.
XAU/USD Gold Price Forecast: $4,100 Support in Focus
Gold price (XAU/USD) remains under pressure in the early European trading session on Wednesday. The precious metal is struggling below the $4,150 level after falling close to the $4,100 area in the previous session.