Gold falls below $4,000 for the first time since July: worst week since June
Expensive oil stokes inflation fears, markets expect a Fed hike in December, and gold loses about 4% in a week.
事件: 2026年10月23日
原始来源: 2026年10月23日
本站发布时间: 2026年10月24日 01:40 UTC
阅读: 2 分钟
发生了什么
On Friday spot gold fell below $4,000 an ounce for the first time since mid-July. Reuters says it lost about 4% over the week, its worst week since June. December gold futures on COMEX settled at $4,007.90.
为什么和你有关
Brent crude rose to a more than five-month high. That feeds inflation, which means the Fed may raise rates. Higher rates hurt gold: it pays no interest, so holding it costs more. Add the tech stock selloff: some investors sell gold to cover their losses.
要核实和关注什么
The Fed meets on 27-28 October and PCE inflation data comes on 29 October. CME FedWatch shows markets almost sure of no change now, but a 78% chance of a hike in December.
Spot gold fell as low as $3,975.23 an ounce on Friday, its lowest since mid-July, Reuters reports. In the evening it traded around $3,995, according to Investing.com. The December COMEX contract settled at $4,007.90, down 1.3% on the day, Reuters says. A week earlier, on 16 October, it closed at $4,181.10.
The main driver is oil. Brent climbed to a more than five-month high after Houthi attacks on sites in Saudi Arabia. Expensive oil pushes inflation up and makes it harder for central banks to cut rates. ING analysts noted that the gold market is now focused on oil and what it means for rates.
Rates matter for gold directly. The metal pays no interest, so when bonds and deposits pay more, holding gold is less attractive. CME FedWatch shows traders see a 92% chance the Fed holds at its 27-28 October meeting and a 78% chance of a hike in December.
The selloff in AI-linked stocks did not help either. The S&P 500 and Nasdaq touched five-week lows on Friday. Jim Wyckoff, an analyst at American Gold Exchange, told Reuters that falling stocks triggered margin calls for some investors, who sold gold and silver to meet them.
Other metals fell too. Silver dropped to $53.97 an ounce, its lowest since November 2025, and platinum to $1,555.84. On the other hand, gold demand in India picked up this week as lower prices during the Dussehra festival boosted purchases.
已确认的事实
- Spot gold fell below $4,000 an ounce on Friday for the first time since mid-July and touched $3,975.23.[2]
- Gold lost about 4% over the week, its worst week since June.[2]
- December gold futures settled at $4,007.90, down 1.3% on the day.[2]
- A week earlier, on 16 October, the December COMEX contract closed at $4,181.10.[1]
- At about 22:05 GMT spot gold traded at $3,995.63 an ounce.[3]
- Brent crude rose to a more than five-month high.[2][3]
- CME FedWatch shows a 92% chance the Fed holds rates on 27-28 October and a 78% chance of a hike in December.[2]
- PCE inflation data is due on 29 October.[2]
- Silver fell to $53.97 an ounce, its lowest since November 2025.[2]
影响
- 已确认Anyone who bought gold above $4,000 in recent months is now at a loss.
- 我们的解读As long as oil rises and markets expect a rate hike, gold will struggle to climb.
- 我们的解读Gold did not act as a safe haven this week while stocks fell.
仍未知
- Whether gold stays below $4,000 next week.
- What the Fed will signal on 28 October about December.
影响到谁
United States, Worldwide. Those who hold gold, silver or funds that track them and follow Fed rates
来源
封面：Freekonomist 图示，象征性图片，不是事件现场照片。 这是新闻解读，不构成投资建议。
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