Gold Falls 1.1% to $4,094.90 an Ounce, Lowest Since October 14, as Oil Stokes Rate Fears

Spot gold fell 1.1 percent to $4,094.90 an ounce in Thursday trading on October 22, 2026, its lowest since October 14, Mehr reported, citing Reuters. US gold futures for December delivery slipped 0.9 percent to $4,111.40. In Sahmino's data at 11:29 the same day the ounce stood at $4,085.20, down 1.17 percent from the previous reference.

Kelvin Wong, senior market analyst at OANDA, said continued gains in oil could strengthen inflation expectations and raise the odds that interest rates stay high for longer, which is negative for non-yielding gold. According to the CME FedWatch tool, traders see a 16 percent chance of a US rate hike at the October 27-28 meeting and 90 percent in December. Silver fell 2.6 percent to $56.44, platinum 2.1 percent to $1,594.25 and palladium 2.6 percent to $1,059.05.

The global ounce is the base for gold and coin prices in the Tehran market. Reuters technical analyst Wang Tao sees support at $4,073, the October 14 low, and resistance at $4,135.