NewsSignals AI analysis·Reuters·Oct 29, 2026

Gold slips as Fed hike bets linger ahead of US inflation data

Grade Bbearish AI signal$XAU$XAG

Gold fell 0.8% to $4,035.28 per ounce as persistent US inflation fueled expectations of a potential Federal Reserve rate hike in December, putting bullion on track for a second consecutive monthly decline. Traders are pricing in roughly a 90% chance of a December hike, while upcoming US PCE inflation data could reinforce tightening expectations; silver also dropped 1.9% to $52.93 per ounce. Stronger-than-expected inflation could push gold below $4,000 and deepen losses, while any easing in rate-hike expectations may provide relief for precious metals.

Bullish strength: 20/100

Markets remain wary of renewed geopolitical tensions following the US midterm election.
Lower oil prices could ease inflationary pressure and reduce the need for further monetary tightening.

Bearish strength: 80/100

Spot gold fell 0.8% to $4,035.28 per ounce.
Traders are pricing in approximately a 90% chance of a December Fed rate hike.
Gold is on track for its second consecutive monthly decline.
Stronger-than-expected PCE inflation could push gold below $4,000.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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