Gold Recovers Toward $4,150 an Ounce on Thursday as Fed Rate-Hike Worries Cap the Gain

Global gold rose to $4,146.63 an ounce on the morning of Thursday, October 15, 2026, about 1 percent above the previous day, recovering part of Wednesday's losses. According to Trading Economics, the end of oil's five-day rally, a softer dollar and retreating bond yields supported precious metals. Expectations of further Federal Reserve rate hikes still weigh after hotter-than-forecast US inflation: US consumer prices rose 3.7 percent in September against a 3.6 percent forecast. The same report says the Chicago Fed president called the figures "discouraging" and the San Francisco Fed president said short-term rates may need to rise further, though she sees no immediate need for a hike at this month's meeting. Gold is down 2.75 percent over the past month and 4.20 percent below a year ago; its all-time high of $5,608 was set in January 2026. The global ounce is the reference for domestic gold and coin pricing in Iran.