Gold Price Today 29 Oct 2026: spot gold (XAUUSD) is near $4,052 on Thursday morning, down about 0.4% after the Fed held rates at 3.75–4.00% as expected. The vote split 10–2, with two members wanting a hike, so markets still see a real chance of a December Fed hike. Gold is still trading between $4,000 and $4,100. Today watch US PCE and GDP (12:30 GMT) and the ECB decision (13:15 GMT).
Updated Thu 29 Oct 2026 · 03:02 GMT · Spot gold price as of the Asian morning, 29 Oct 2026 (around 01:12 GMT)
Vs previous close · After the Fed decision, gold is hovering around $4,050–4,060 with no clear direction (Investing.com, Rio Times, Trading Economics)
Key points for gold today
- 1Spot gold is near $4,052 (−0.38%) this morning and is still down about 2.5% for October
- 2The Fed held at 3.75–4.00% in a 10–2 vote, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting in favour of a 0.25% hike. Markets still price about a 78% chance of a December hike
- 3Resistance at $4,070 and $4,100; support at $4,000 and $3,942
- 4Today at 12:30 GMT: September PCE (expected 3.6% y/y, Core 3.1%) and Q3 GDP (expected 3.0%), followed by the ECB at 13:15 GMT
3 factors driving gold
- FOMCFed holds, but a 10–2 split leans towards a hike
The Fed held rates at 3.75–4.00% after hiking last month, with Lisa Cook and Beth Hammack voting for a 0.25% hike. The statement said inflation remains elevated, and Fed Chair Kevin Warsh stressed that bringing inflation back to 2% is the top priority, without pushing back on expectations of a December hike, which traders still price at about 78% (Fortune, investingLive citing Reuters). Rio Times sees the outcome as mildly negative for gold. Read more in our Fed decision Oct 2026 report
- 10YUS yields stay near 5%, dollar steady near 102
The US 10-year Treasury yield closed Wednesday near 5.02% (Rio Times) before easing to around 4.98% in the Asian morning, while the dollar index (DXY) is near 102.22 (Investing.com). High yields raise the cost of holding non-yielding gold and are the main reason gold has struggled to rally further.
- OILOil eases and central banks keep buying gold
Brent crude fell about 1.1% to around $110.37 a barrel, easing some energy-driven inflation worries. Goldman Sachs estimates global central banks bought about 79 tonnes of gold in August, including 25 tonnes by China (Investing.com), which helps support gold on dips.
Key support and resistance levels
| $4,217 | R3 | Short-term trend-change level, per FXEmpire analysis |
| $4,100 | R2 | A break above this resistance would be a bullish signal (Rio Times) |
| $4,070 | R1 | Price needs to close above this level to stabilise (FXEmpire) |
| $4,052 | NOW | Latest price (Investing.com, around 01:12 GMT) |
| $4,000 | S1 | Key psychological support; a break below is a bearish signal |
| $3,942 | S2 | June low and weekly swing low (FXEmpire) |
Upside / downside
Closes above $4,070, then clears $4,100
The next level in the analysis is $4,217. A softer-than-expected PCE reading today, which would reduce bets on a December Fed hike, and yields slipping below 5% would help.
Breaks below $4,000
Analysts see this as a bearish signal, with the June low near $3,942 as the next target. Stronger-than-expected PCE or GDP data and a further rise in the dollar and yields would add pressure.
Levels as of 26–28 Oct 2026, based on FXEmpire and Rio Times analysis. Not a trading recommendation.
Thu 29 Oct 2026 · Gold-moving events
- US PCE (Sep)PCE is expected at 3.6% y/y (prior 3.4%) and Core PCE at 3.1% (prior 3.0%). A hotter reading could lift the dollar and yields, weighing on goldRead analysis →HIGH
- US Q3 GDP (advance estimate)Expected at 3.0%, from 2.2% in Q2HIGH
- US weekly jobless claimsReleased together with PCE and GDPMED
- ECB decisionThe deposit rate is expected to stay at 2.50%; press conference at 13:45 GMTRead analysis →HIGH
Gold swings in a $4,000–4,100 range before PCE: get cash back on every lot
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Sources (9)
- Investing.com – Gold slips after Fed holds rates (29 Oct)
- Trading Economics – Gold (29 Oct)
- Fortune – Fed holds rates steady 3.75%–4% (28 Oct)
- investingLive – Fed holds at 3.75–4% in 10-2 vote (28 Oct)
- Rio Times – Gold holds near $4,055 (28 Oct)
- FXEmpire – Gold News: Fed-week relief (26 Oct)
- FXEmpire – Gold forecasts (28 Oct)
- Newsquawk – Week in Focus 26–30 Oct
- Admirals – ECB Meeting October 2026
Risk warning: Trading gold, forex and CFDs carries a high level of risk and you may lose all of your capital. This article is a summary for educational purposes only and is not investment advice. Prices may have changed by the time you read it.
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