Gold Eases Above US$4,100 as Investors Reassess the Federal Reserve Outlook

Bengaluru, 20 October 2026 – Gold prices eased as investors reassessed the United States interest-rate outlook, with spot bullion down 0.3% at US$4,126.84 an ounce and December futures 0.3% lower at US$4,146. The market is preparing for the Federal Reserve’s 27–28 October meeting and another reading of the personal consumption expenditures price index. Prices remain historically elevated despite the day’s decline.

For Asian investors, gold’s level affects jewellery demand, central-bank reserves, mining shares and portfolio hedges. The confirmed price move was modest, while the reasons assigned to it remain an interpretation of positioning ahead of policy events. A lower policy-rate path can support a non-yielding asset by reducing its opportunity cost, but a stronger dollar or persistent inflation can produce conflicting effects. The next meeting will matter through both the decision and the guidance.