Gold climbs back above $4,000 after its steepest weekly drop in four months
Spot gold rose about 0.6% on Monday as lower oil prices eased inflation worries ahead of the Fed decision, after touching a three-month low on Friday.
The short answer
- Spot gold rose 0.6% to $4,020.60 an ounce by 2:09 p.m. EDT on Monday (Reuters via CNBC).
- Gold had hit $3,975 on Friday, its lowest since July 20.
- December gold futures settled 0.8% higher at $4,038.40.
Gold prices rose on Monday, rebounding from a more than three-month low, as retreating oil prices tempered inflation concerns ahead of this week's Federal Reserve meeting, CNBC reported.
Spot gold rose 0.6% to $4,020.60 per ounce by 2:09 p.m. EDT, after hitting $3,975 on Friday, its lowest level since July 20. US gold futures for December delivery settled 0.8% higher at $4,038.40.
Kitco News reported that gold recovered above the psychologically important $4,000 level after recording its steepest weekly decline in more than four months, while spot silver traded near $53.99.
The oil link
Lower crude prices matter for gold this month because high energy costs have raised expectations that central banks may tighten policy further — which tends to weigh on a metal that pays no interest. Brent retreated toward $114 a barrel on Monday after climbing sharply last week, Kitco reported.
Sources
- Gold rises as lower oil prices ease inflation fears ahead of Fed meeting — CNBC / Reuters
- Gold rebounds above $4,000 as lower oil prices ease Fed tightening concerns — Kitco News
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- Published:
- 27 Oct 2026, 08:02 UTC
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- 27 Oct 2026, 08:02 UTC
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