Regular Edition · Mon 26 Oct 2026
Commodities — Gold
Gold Holds Near $4,000 After Losing More Than 4% Last Week
Gold starts a Fed week near $4,000 an ounce after its worst week since June, as high oil prices kept rate-hike fears alive.
Chanan Zevin - Chief Editor and Head of Desks
Published
Last week
CNBC reported spot gold slipped below $4,000 on Friday for the first time since mid-July, heading for its worst week since June. FX Recap put COMEX gold futures at $4,010 for the week, down 4.1%, with silver futures down 5.8%.
The drivers
investingLive said oil above $100 a barrel revived inflation fears and kept a December Fed hike in play, while margin-call selling linked to the tech sell-off added pressure. FX Recap noted that the dollar was flat and real yields fell over the week, and said it found no official explanation for the sell-off.
What to watch
investingLive said UBS expects dip-buyers to defend $4,000. The Fed decides on Wednesday and U.S. PCE inflation data follows.
Sources
- CNBC, 'Gold set for steep weekly loss as rising oil prices bolster Fed rate hike bets', 23 October 2026 · cnbc.com
- investingLive, 'Gold dips below $4,000 in worst week in four months as oil fuels Fed hike fears' · investinglive.com
- FX Recap, 'Gold Slips Below $4,000 After Its Worst Week Since June' · fxrecap.com