{
  "id": 16999009,
  "title": "Gold Holds Near US$4,055 as Fed Stays Split | Gold & Silver, Oct 28",
  "url": "https://urgent.news/2026/10/29/gold-holds-near-us-4-055-as-fed-stays-split-gold-silver-oct-28",
  "topic": "world",
  "section": "World",
  "published": "2026-10-29T00:50:09.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/gold-silver-precious-metals-wednesday-october-28-2026/"
  },
  "original_language": "en",
  "account": "Gold maintained its level near US$4,055 per ounce on Wednesday as the US Federal Reserve decided to keep interest rates unchanged. The spot price for gold was essentially flat for the day, while the gold ETF GLD saw a modest increase of 0.33%. Conversely, silver experienced a decline of approximately 0.9% to US$53.92 per ounce. Mining shares proved more resilient than metals, with the gold-mining fund GDX surging 0.91%. The Fed's decision was split, with ten members endorsing the rate range of 3.75% to 4% and two advocating for a quarter-point hike. Gold, a dollar-denominated asset yielding no interest, remains susceptible to pressure from the Fed's indecision and the prevailing dollar and Treasury yields. Gold finished Wednesday nearly at its starting point, with spot prices near US$4,055 and GLD rising 0.33% to US$373.51. Silver edged lower by 0.86% to US$53.92, and the SLV fund dipped 0.20% to US$49.06. Mining shares outperformed the metals, with GDX gaining 0.91% to US$83.95. The primary driver of the market was the Fed's decision, which came at 2:00 pm New York time. The Fed statement revealed that Governor Lisa Cook and Beth Hammack of the Cleveland Fed voted against the status quo, favoring an interest rate increase. The dollar index slipped 0.16% to 102.16, benefiting dollar-priced gold, while the 10-year US Treasury yield rose to 5.02%, adversely affecting the precious metals. Mexico remains the world's top silver producer, with Peru ranking among the top three. Pan American Silver, a Mexican miner, gained 0.70%. Newmont and Agnico Eagle, among the largest US-listed gold producers, both rose more than 1%, while Barrick fell 1.31%. Gold's movement is likely to remain within a range until the Fed provides clearer guidance. A breach above US$4,100 would be considered bullish, while a drop below US$4,000 would be bearish. Prediction markets indicate a 52.5% chance of gold dipping to US$4,000 in October and a 35.5% probability of it climbing to US$4,100. The trading volume on these platforms amounted to US$475,000 as of 28 October 2026, 8:47 pm ET.",
  "summary": "Gold held near US$4,055 an ounce on Wednesday as the Fed held rates in a 10 to 2 vote; silver slipped 0.86% to US$53.92 and gold miners gained 0.91%. The post Gold Holds Near US$4,055 as Fed Stays Split | Gold & Silver, Oct 28 appeared first on The Rio Times .",
  "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."
}