Gold holds near $4,000 as dollar firms ahead of FOMC decision: Oct 28, 2026
Gold is holding near the $4,000 to above $4,050 area with attention on the upcoming FOMC decision, while a two-week high in the US dollar has coincided with softer pricing. Dubai 22-karat prices eased to Dh450, and demand signals are mixed with continued investor interest alongside reports of reduced stocking by major Indian jewelers for Diwali.
Updated
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The day on the wire
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Each tick is a headline first seen that day.
Headlines (12)
First seen on October 28
- Gold drifts lower as USD hits two-week high ahead of FOMC decisionFXStreet
- Dubai 22-karat gold drops to Dh450 as prices continue to softengulfnews.com
- India’s Biggest Jewelers Have a Diwali Plan for Gold: Buy Less of ItBeInCrypto
- Chart of the day: Gold faces a make-or-break moment near $4,000 as Fed and market risks convergeInvestingLive
Carried over from earlier days
- Gold dips below $4,000 as long liquidation swamps ETF buying, Saxo Bank saysInvestingLive
- Dubai gold prices ease as traders await Fed decisiongulfnews.com
- Gold could rebound in the near-term as growth and US strikes fears subside; eyes on the FOMC nextInvestingLive
- Gold Price Crashed 25%, But Investors are Still BuyingBeInCrypto
- Gold Price Forecast: XAU/USD trades with caution as Fed’s policy takes centre stageFXStreet
- Gold struggles near $4,000 as US Dollar strengthens ahead of Fed decisionFXStreet
- Everyone who bought Gold near $4,000 is holding their breath right nowFXStreet
- Gold rises above $4,050 ahead of Fed rate decisionFXStreet
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Wednesday, October 28 | ||
| KOF Economic Barometer | CHF | |
| UBS Economic Expectations | CHF | |
| Goods Trade Balance | -130.4B | USD |
| Prelim Wholesale Inventories m/m | 0.5% | USD |
| Crude Oil Inventories | 0.1M | USD |
| Federal Funds Rate | 4.00% | USD |
| FOMC Statement | USD | |
| FOMC Press Conference | USD | |