{
  "id": 14526346,
  "title": "Gold crashes below $4,100 as hot CPI revives October Fed hike bets",
  "url": "https://urgent.news/2026/10/14/gold-crashes-below-4-100-as-hot-cpi-revives-october-fed-hike-bets",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T17:57:55.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-crashes-below-4-100-as-hot-cpi-revives-october-fed-hike-bets-202610141757"
  },
  "original_language": "en",
  "account": "Gold prices took a nosedive below $4,100 on Wednesday following a hotter-than-expected U.S. inflation report, reigniting speculation of a possible Federal Reserve rate hike at their October meeting. The U.S. Consumer Price Index (CPI) for September surged above forecasts, with monthly inflation reaching 0.6% and the annual rate jumping from 3.4% to 3.7%. Core CPI, which excludes volatile items like energy and food, also exceeded predictions, climbing from 2.4% to 2.6% over the past year. Factors contributing to the inflation surge include higher gasoline, diesel, and food prices, as well as increased costs for shelter, owner-equivalent rent, recreation, and education, as well as a significant rise in used-car and truck prices.\n\nThis surge in inflation has led traders to increase their expectations of a rate hike from the Federal Reserve during their October 27-28 meeting, pushing the probability of such a move from around 22% to 42% in a single day. Fed Governor Michelle Bowman stated that the central bank is currently in a \"wait-and-see\" mode, observing how financial markets and the economy react to the September rate hike.\n\nMeanwhile, U.S. Treasury yields have been climbing, with the 10-year note yield increasing by one basis point to 5.209%, and the 2-year yield jumping nearly 3.5 basis points to 4.829%. As the precious metal trades below $4,100, with a new five-day low of $4,073, momentum is on the side of the sellers, and the Relative Strength Index (RSI) suggests that this trend is gaining strength, approaching the 30 oversold level. If XAU/USD falls below $4,050, the metal could potentially break through the $4,000 mark.\n\nLooking ahead, the next areas of interest for Gold are the July 29 cycle low at $3,996 and the July 17 low at $3,959, followed by the yearly low at $3,941. For Gold to reverse its current bearish trend, it must break above $4,200, enabling it to test the 100-day Simple Moving Average (SMA) at $4,248 and the 50-day SMA at $4,333. Gold has long been considered a store of value and medium of exchange, as well as a safe-haven asset during turbulent times. Central banks are among the largest holders of Gold, often purchasing it to support their currencies and improve the perceived strength of their economies and currencies. In 2022, central banks added a record 1,136 tonnes of Gold worth approximately $70 billion to their reserves.",
  "summary": "Gold (XAU/USD) price collapses nearly 2% on Wednesday after the latest inflation report in the US was hotter than foreseen, resurrecting bets that the Federal Reserve (Fed) could increase rates at the October 27-28 meeting. At the time of writing, XAU/USD trades at $4,078, after peaking near $4,170.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}