Gold edges higher ahead of Fed policy decision

Benchmarks Nifty22,749.75-3.46FEATURED FUNDS★★★★★Motilal Oswal Midcap Fund Direct-Growth5Y Return18.32 % Invest NowFEATURED FUNDS★★★★★UTI Aggressive Hybrid Fund Regular Plan-Growth5Y Return8.45 % Invest NowEnter search text:

The Economic Times daily newspaper is available online now. Read Today's Paper Gold edges higher ahead of Fed policy decisionReutersLast Updated: Oct 28, 2026, 07:32:00 AM ISTSynopsis

As anticipation builds for the Federal Reserve's interest rate decision today, gold prices have experienced a minor uptick, reaching $4,061.86 per ounce. Market participants are keenly awaiting the Fed's report alongside crucial Personal Consumption Expenditures data that influences inflation strategies. While high inflation forecasts loom, concerns about ongoing price pressure persist.

Gold prices edged higher on Wednesday after rising about 1% in the previous session, as investors awaited the Federal Reserve's policy decision later in the day, where the central bank is widely expected to leave interest rates unchanged.

Fundamentals

Spot gold rose 0.1% to $4,061.86 per ounce by 0036 GMT, after climbing over 1% and touching a session high of $4,065.55 on Tuesday. US gold futures for December delivery steadied at $4,075.60.

Markets await the Fed's policy decision due at 1800 GMT along with the Personal Consumption Expenditures data on Thursday, a key gauge closely watched by the central bank as it targets a 2% inflation rate.

Traders largely expect the central bank to leave rates unchanged today but are pricing in about an 84% chance of an interest rate hike in December, according to the CME's FedWatch Tool.

Higher interest rates increase the opportunity cost of holding non-yielding bullion.

Live Events

High inflation will persist in the global economy well into next year, according to hundreds of economists polled by Reuters, who are now increasingly concerned that price pressures will become entrenched beyond rising energy costs caused by the conflict in the Middle East.

On the geopolitical front, Yemen's Iran-aligned Houthis said on Tuesday they had hit Saudi Arabia's Ras Tanura oil refinery, the biggest in the kingdom, with a ballistic missile.

Analysts and traders have cut their platinum and palladium price forecasts for 2026 for a third straight quarter as demand cools and the auto sector's outlook darkens, yet a rebound is still expected for both metals in 2027, a Reuters survey showed.

Elsewhere, Japan's core consumer price index, which strips out one-off factors, rose in September at the fastest annual pace in three years, data showed on Tuesday, a sign of broadening price pressures that cement the case for further interest rate hikes.

Spot silver rose 0.1% to $54.38 per ounce, platinum lost 0.2% to $1,537.58 and palladium gained 0.5% to $1,031.42.

Data/Events (Gmt)

1100 France Unemp Class- A SA, September
Add as a Reliable and Trusted News Source Add Now!
(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onGold PricesFederal Reserve PolicyInterest RatesInflationEconomic Outlook

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...moreless
(You can now subscribe to our ETMarkets WhatsApp channel)
Read More News onGold PricesFederal Reserve PolicyInterest RatesInflationEconomic Outlook

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...morelessPrime ExclusivesInvestment IdeasStock Report PlusePaperWealth Edition

• Will it be a regulatory nightmare if an exchange lists on its own platform?

• KYC and KYB: Inside Damani’s Avenue Supermarts that refuses to charge more – Part 1 of 3

• Will oil turn into a lingering problem? Is the world economy, India, or the market prepared?

• KYB and KYC: Business behind the wealth creator called ‘Divi’s Lab’ – Part 2, concluding

• KYB and KYC: Business behind the wealth creator called “Divi’s Lab” – Part 1

• The global business of promising more

• 1
• 2
• 3

View all StoriesContinue reading with one of these options:Limited AccessFreeLogin to get access to some exclusive stories
& personalised newslettersLogin NowUnlimited AccessStarting @ Rs120/monthGet access to exclusive stories, expert opinions &
in-depth stock reportsSubscribe NowET

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Login using your ET Prime credentials to enjoy all member benefits

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Big Price Drop! Flat 40% Off

Student Only OfferAlready a Member? Sign In nowAlready a Member? Sign In nowAlready a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail OfferAvail OfferClaim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004'; }); } if(listing) { var h3 = "You tried reading " + listArr.length + " locked stories in the past " + threshold + " days.", h4 = "Become an ET Prime member and don't miss out on these exclusive stories."; var html = '

' + h3 + '

' + h4 + '

' + listing + '

'; $('#paidSCWidget').html(html); var callback = $('#paidSCWidget').attr('data-callback'); if(callback && window[callback]) { window[callback](); } customDimension.dimension72 += ' | Shown SYFT no Trial_With Missed Paywalled Articles Collection'; } else { _processNormal() } } }); } else { _processNormal(); } } catch (e) { _processNormal(); } }, function () { _processNormal(); }); //console.log('storyCollectionLoad', $); }

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with
in-depth insights that matter

• Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

  What Adani’s US indictment means for India Inc’s overseas fundraising

• Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

  Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?

• Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

  The problem with lab grown diamonds

• Why a falling rupee is a better option for the economy

  A list of top 20 momentum stocks that have delivered massive returns in one year

2Invest Wisely With Smart Market Tools & Investment Ideas

Alpha Trade

Get daily trade ideas from SEBI-registered research analysts.

Investment Ideas

Grow your wealth with stock ideas & sectoral trends.

Stock Reports Plus

All-in-one stock research with Stock Score, peer comparison & key signals.

BigBull Portfolio

Get to know where the market bulls are investing to identify the right stocks.

Stock Analyzer

Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.

Market Mood

Analyze the market sentiments & identify the trend reversal for strategic decisions.

Stock Talk Live at 9 AM Daily

Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.

3Stay informed anytime, anywhere with ET ePaper

ePaper - Print View

Read the PDF version of ET newspaper. Download & access it offline anytime.

ePaper - Digital View

Read your daily newspaper in Digital View & get it delivered to your inbox everyday.

Wealth Edition

Manage your money efficiently with this weekly money management guide.

TOI ePaper

Read the PDF version of TOI newspaper. Download & access it offline anytime.

Deep Explainers

Explore the In-depth explanation of complex topics for everyday life decisions.

Health+ Stories

Get fitter with daily health insights committed to your well-being.

Personal Finance+ Stories

Manage your wealth better with in-depth insights & updates on finance.

5Enjoy Complimentary Subscriptions From Top Brands

Stream new documentaries from all across the world every day.

Stories you might be interested in