Gold drifts lower as strong dollar and Fed decision in focus: Oct 29, 2026
Gold drifted lower as the U.S. dollar hit a two-week high ahead of the FOMC decision, with attention on Federal Reserve policy and the Warsh news conference. Softer pricing showed in Dubai, where 22-karat gold dropped to Dh450, while major Indian jewelers planned to stock less metal for Diwali. Standard Chartered pointed to $3,886 as oil prices fueled bets on rate hikes.
Updated
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Headlines (10)
Carried over from earlier days
- Gold Price Crashed 25%, But Investors are Still BuyingBeInCrypto
- Gold Price Forecast: XAU/USD trades with caution as Fed’s policy takes centre stageFXStreet
- Everyone who bought Gold near $4,000 is holding their breath right nowFXStreet
- Standard Chartered: Gold must hold $3,886 or risk deeper correction as oil fuels hike betsInvestingLive
- 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
- FOMC decision Oct 28: Rates left unchangedInvestingLive
- As Midterms Approach, Signs of Impending Return to Open Conflict With Iranmaritime-executive.com
- Here are five key takeaways from the Fed rate decision and Warsh news conferenceCNBC
Scheduled events
As of
| Event | Forecast | Currency |
|---|---|---|
| Thursday, October 29 | ||
| Retail Sales y/y | CHF | |
| Core PCE Price Index m/m | 0.3% | USD |
| Advance GDP q/q | 3.2% | USD |
| Unemployment Claims | 198K | USD |
| Advance GDP Price Index q/q | 3.2% | USD |
| Personal Income m/m | 0.3% | USD |
| Personal Spending m/m | 0.6% | USD |
| Natural Gas Storage | 75B | USD |