Gold Price Today: Bull and Bear Case as Gold Falls a Fourth…
By Tobi Opeyemi Amure
AI summary of the source article
Spot gold fell for a fourth consecutive session to around $4,114 an ounce. The decline persisted despite easing US Treasury yields, pressured by high oil prices and market expectations of a December Federal Reserve interest rate hike.
Why it matters
"oil near $110 keeps headline inflation elevated enough that the market prices the Fed's next move as a hike in December, not a cut" meaning "there is no relief coming for a non-yielding asset."
Key facts
- Spot gold fell 0.26 percent to approximately $4,114 an ounce, marking its fourth consecutive daily decline.
- Markets priced a 92 to 94 percent probability of a Federal Reserve rate hike in December as Brent crude traded near $110.
- CIBC lowered its fourth-quarter gold price forecast from $6,500 an ounce at the start of the year to $4,500.
Source excerpt · FinanceFeeds
Updated 21 October 2026. Spot gold traded at about $4,114 an ounce on Wednesday 21 October, down 0.26 percent on the day and a fourth straight session of declines (Trading Economics, $4,113.95; Mitrade, about $4,115). Comex December futures settled at $4,122.40 on Tuesday, down 0.4 percent, after a $4,112-$4,154 range. The US 10-year yield is 5.116 percent. Verdict: gold cannot rally while Brent s…