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Gold Prices Fall 0.14% to $4,068.70 Amid Fed Uncertainty
Published: October 28, 2026
Gold slid 0.14% to $4,068.70 per ounce and silver fell 0.19% to $54.41 on COMEX. Prices are being pressured by a firmer dollar and expectations of higher U.S. rates ahead of the Oct 28 Fed meeting.
Gold fell 0.14%, trading at $4,068.70 per ounce on COMEX, down $5.90 from the previous close, while silver slipped 0.19% to $54.41 per ounce, a drop of $0.10.
In India, the All India Sarafa Association reported a ₹500 fall in gold to ₹1.45 lakh per 10 grams and a ₹4,000 decline in silver to ₹1.98 lakh per kg, reflecting the global dollar‑priced bullion trend.
A stronger dollar has made dollar‑priced metals more expensive for foreign buyers, and the possibility of sustained U.S. interest rates has added a negative bias, as noted by analysts monitoring the Federal Reserve’s policy path.
Crude oil prices rose, with Brent up 1.3% to $115.36 and WTI to $101.12, after a Houthi‑linked attack on a Saudi refinery, adding inflationary pressure that could prompt higher rates.
Industrial demand for silver is under scrutiny; Gaurav Garg of Lemonn said selling pressure remains below $54, and both metals are expected to rebound 10‑15% if the Fed signals easing and the dollar weakens, though geopolitical volatility could support safe‑haven buying.
Looking ahead, traders will watch the Fed’s Oct 28 decision for clues on rates, the dollar’s trajectory, and any shift in oil prices that may dictate the next move in bullion markets.