{
  "id": 12620271,
  "title": "Gold down 1% as dollar gains; Fed minutes in focus",
  "url": "https://urgent.news/2026/10/07/gold-down-1-as-dollar-gains-fed-minutes-in-focus",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T12:03:34.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40443102/gold-down-1-as-dollar-gains-fed-minutes-in-focus"
  },
  "original_language": "en",
  "account": "Gold prices experienced a decline of 1% on Wednesday, as the US dollar strengthened. Investors were waiting for the minutes of the Federal Reserve’s September meeting to assess the level of backing among policymakers for additional rate hikes. Spot gold dropped to $4,119.01 per ounce and US gold futures for December delivery fell 1% to $4,145.50. The US dollar index increased by 0.5%, making gold denominated in dollars more costly for non-US investors. Ricardo Evangelista, CEO of ActivTrades, noted the caution investors were taking ahead of the Federal Open Market Committee minutes, stating that until there is clearer information on the Fed's support for rate hikes, there may be reluctance to make larger gold investments. Market expectations indicated the Fed would likely remain steady in October, but there was still an 86% chance of a December hike, according to the CME's FedWatch tool. Fed officials Jeff Schmid and Mary Daly both emphasized the need for interest rates to rise to curb inflation, with Daly stating the decision would depend on the persistence or fading of inflationary factors. The downside for gold was attributed to geopolitical uncertainty, government debt, inflation, and central bank demand. IMF Managing Director Kristalina Georgieva cautioned about global economic risks stemming from persistently high energy prices, soaring public debt, and the AI investment boom. Meanwhile, delegates from the London Bullion Market Association conference in Italy anticipated gold could reach $5,013 an ounce within the next year. China's central bank continued its streak of gold purchases, buying the metal for the 23rd consecutive month. Spot silver declined 2.6% to $60.10 per ounce, platinum dropped 3.9% to $1,635.41, and palladium fell 2.9% to $1,138.00.",
  "summary": "Gold prices slid on a stronger US dollar on Wednesday, while investors awaited the minutes of the Federal Reserve’s September meeting to gauge the degree of support among policymakers for further rate hikes. Spot gold fell 1.1% to $4,119.01 per ounce by 1127 GMT. US gold futures for December delivery declined 1% to $4,145.50. The US dollar index rose 0.5%, making greenback-denominated gold more…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Dollar climbs ahead of Fed minutes; euro slides towards 17-month lows",
        "url": "https://urgent.news/2026/10/07/dollar-climbs-ahead-of-fed-minutes-euro-slides-towards-17-month-lows",
        "published": "2026-10-07T01:16:05.000Z"
      },
      {
        "outlet": "Financial Times",
        "title": "How US mortgage bonds can trigger a ‘vicious loop’ for Treasury yields",
        "url": "https://urgent.news/2026/10/07/how-us-mortgage-bonds-can-trigger-a-vicious-loop-for-treasury-yields",
        "published": "2026-10-07T10:20:56.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Wall St futures slip as yields and oil rebound; Fed minutes in focus",
        "url": "https://urgent.news/2026/10/07/wall-st-futures-slip-as-yields-and-oil-rebound-fed-minutes-in-focus",
        "published": "2026-10-07T10:42:22.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "Swiss Franc retreats further, US Dollar firms up with Fed minutes in focus",
        "url": "https://urgent.news/2026/10/07/swiss-franc-retreats-further-us-dollar-firms-up-with-fed-minutes-in",
        "published": "2026-10-07T10:43:59.000Z"
      },
      {
        "outlet": "Quartz",
        "title": "Gold slips ahead of Fed September meeting minutes release",
        "url": "https://urgent.news/2026/10/07/gold-slips-ahead-of-fed-september-meeting-minutes-release",
        "published": "2026-10-07T12:00:38.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}