Gold Price Today: $4,038 on Fed Decision Day With PCE Due…
By Tobi Opeyemi Amure
AI summary of the source article
Spot gold traded at $4,037.98 an ounce on Wednesday, down 0.6 percent ahead of the Federal Reserve's rate decision. Markets price an 84.4 percent chance of a December rate hike.
Key facts
- Spot gold stood at $4,037.98 an ounce and December US gold futures at $4,051.32 on Wednesday 28 October.
- CME FedWatch priced a 92.8 percent chance of a rate hold at 3.75 percent to 4.00 percent and an 84.4 percent chance of a December hike.
- Spot silver fell 0.9 percent to $53.91 an ounce, while the US Dollar Index rose 0.1 percent to 102.42.
Source excerpt · FinanceFeeds
Updated 28 October 2026. Spot gold traded at $4,037.98 an ounce at 04:57 GMT on Wednesday, down 0.6 percent, with December US gold futures at $4,051.32 (Investing.com). On Tuesday gold climbed more than 1 percent to about $4,065 as oil fell for a second day (FXStreet). Verdict: gold is holding above $4,000 into the Fed decision at 2 pm ET, but the bounce has already faded once, oil is rising again…