Gold Hovers Near $4,144 an Ounce as Markets Price a 94% Chance of a December Fed Rate Hike

Global gold rose 0.07% from the previous day to $4,143.91 an ounce on Tuesday, October 20, 2026, and is 4.58% lower than a month earlier, according to data source. The analyst attributes the weakness to elevated oil prices, inflation concerns, a stronger dollar and rising bond yields; prices track a contract for difference (CFD). The same source says the Federal Reserve is widely expected to hold rates next week, but markets price roughly a 94% chance of a rate hike in December. The European Central Bank is also expected to deliver at least one more 25-basis-point increase this year. For Iran's domestic market, the world gold price is one of two main inputs for coin and melted-gold prices alongside the free-market dollar, which stood near 263,800 tomans on Monday, October 19.