Gold Slips to $4,142 an Ounce on Monday as Traders Await Next Week's Fed Meeting

Gold fell 0.59% to $4,141.72 an ounce on Monday, October 19, 2026, from $4,166.39 previously, Trading Economics reported. That is about 26% below the $5,608.35 peak it lists for January 2026 and 4.64% lower than a month earlier. With oil retreating from a five-month high and recent US CPI and PPI readings stronger than expected, traders are waiting for next week's Federal Reserve decision and the US PCE inflation reading. According to CME's FedWatch tool, the market prices a 15% chance of a rate hike this month and 89% for December. Higher interest rates tend to weigh on non-yielding gold.