{
  "id": 16850562,
  "title": "Gold slips on oil-fuelled inflation fears ahead of Fed meeting",
  "url": "https://urgent.news/2026/10/28/gold-slips-on-oil-fuelled-inflation-fears-ahead-of-fed-meeting",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-28T04:43:41.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/gold/gold-slips-on-oil-fuelled-inflation-fears-ahead-of-fed-meeting/article71634289.ece"
  },
  "original_language": "en",
  "account": "Gold prices dipped on Wednesday after climbing slightly the previous day, as soaring oil prices fueled inflation concerns and investors awaited the Federal Reserve's policy decision later in the day. Spot gold fell by 0.3 per cent to $4,045.29 per ounce by 0347 GMT, while US gold futures for December delivery slipped 0.4 per cent to $4,059.00. Analyst Soni Kumari noted that gold's movement was driven by interest rate expectations and inflation risks due to higher energy prices, suggesting the Federal Reserve would remain cautious and pose a short-term headwind for the precious metal. Oil prices surged on Wednesday following an attack on a refinery in Saudi Arabia, the world's largest crude exporter, raising concerns about Middle East supply risks. Investors anticipate the Fed's policy decision at 1800 GMT, alongside upcoming Personal Consumption Expenditures data on Thursday, a key inflation indicator the central bank closely monitors. Traders expect the Fed to keep rates unchanged, with an 84 per cent chance of a December rate hike according to the CME's FedWatch Tool. Despite high inflation persisting globally through next year, economists surveyed by Reuters forecast a second straight quarter of lower gold prices in 2026 due to high yields, a strong US dollar, and the likelihood of sustained higher rates. However, they still anticipate a recovery in gold prices in 2027. Platinum and palladium prices also declined for the third straight quarter, while silver slipped by 0.6 per cent to $54.06 per ounce.",
  "summary": "Spot gold was down 0.3% at $4,045.29 per ounce by 0347 GMT; US gold futures for December delivery dropped 0.4% to $4,059.00",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Gold slips on oil-fuelled inflation fears ahead of Fed meeting",
        "url": "https://urgent.news/2026/10/28/gold-slips-on-oil-fuelled-inflation-fears-ahead-of-fed-meeting-16853690",
        "published": "2026-10-28T04:56:36.000Z"
      },
      {
        "outlet": "Moneyweb",
        "title": "Gold slips to near $4 000 as focus turns to Fed rate decision",
        "url": "https://urgent.news/2026/10/28/gold-slips-to-near-4-000-as-focus-turns-to-fed-rate-decision",
        "published": "2026-10-28T07:59:28.000Z"
      }
    ]
  },
  "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."
}