Gold Price Today: $4,022 After a 3.4% GDP Beat and 3.1%…
By Tobi Opeyemi Amure
AI summary of the source article
Spot gold fell 1.10% to $4,022 an ounce following stronger-than-expected US third-quarter GDP growth of 3.4% and core PCE inflation of 3.1%. The economic data supported expectations for a potential Federal Reserve interest rate hike in December.
Why it matters
The text notes that "Gold, which pays no yield, does worst when real rates look set to rise, and it slipped to the bottom of its range after the release."
Key facts
- US real GDP grew at an annualized rate of 3.4% in the third quarter, surpassing the 3.2% consensus estimate.
- Core PCE inflation rose 0.3% in September to 3.1% year-on-year, up from 3.0% in August.
- Spot gold dropped 1.10% to $4,022 bid after the data release, remaining near last week's three-month low.
Source excerpt · FinanceFeeds
Updated 29 October 2026. Spot gold was bid at $4,022 an ounce at about 9:07 am ET on Thursday, down $44.60 or 1.10 percent, after a $4,015.30-$4,069.90 range (Kitco). The data that was due at 8:30 am ET is out: the US economy grew at a 3.4 percent annualized rate in the third quarter against 3.2 percent expected, and core PCE inflation rose 0.3 percent in September for 3.1 percent on the year (BEA…