uscpiwach

By Reuters | Published: October 15, 2026
Gold prices rebounded strongly on Thursday, gaining over 1% after dipping to a one-week low in the previous session. The recovery was primarily fueled by a pullback in the US Dollar and shifting expectations surrounding the Federal Reserve’s monetary policy following the latest US inflation data.
Key Market Movements:
Spot Gold: Rose 1.3% to $4,158.63 per ounce, recovering from its lowest level since October 7.US Gold Futures (December Delivery): Advanced 1.8% to settle at $4,180.00 per ounce.Silver: Up 1.1% to $56.26 per ounce.Platinum: Edge up 0.3% to $1,611.15 per ounce.Palladium: Gained 1.3% to $1,107.83 per ounce.
Dollar Weakness and Inflation Insights (US CPI Watch)
The US Dollar index retreated after touching an 18-month high overnight, making dollar-denominated gold more attractive for buyers holding other currencies.
In the latest US CPI Watch, September consumer price indices revealed a faster-than-expected rise in inflation, largely driven by surging gasoline prices. The sticky CPI metrics have intensified the debate over the Federal Reserve's rate-hike trajectory:
According to the CME FedWatch Tool, market probability for another Fed interest rate hike this month climbed to 27% following the CPI release, up from 22% prior to the data.
Fed Officials Weigh In
Federal Reserve policymakers provided mixed signals regarding upcoming policy meetings:
Mary Daly (San Francisco Fed President): Noted that while another short-term rate hike might still be required, there is no immediate need to raise rates at the upcoming October 27–28 meeting.Michelle Bowman (Fed Vice Chair): Supported taking a cautious approach to assess incoming economic indicators before making further policy adjustments.
Market Outlook
Although non-yielding gold is traditionally considered a hedge against inflation, high interest rates tend to dull its appeal by raising the opportunity cost of holding the asset. Investors are now closely monitoring upcoming economic releases, including the US Producer Price Index (PPI) and Retail Sales figures, for further clues on the direction of monetary policy.
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