Gold Price at $4,301: The October Fed Hike Nobody Was Positioned For - FinanceFeeds

AI desk brief

Gold is under pressure at $4,301.79/oz, down 1.43% on the day after failing near $4,400, with $4,300 now the key near-term support. The excerpt frames the move as a rates story, not an inflation story: the Fed’s 16 September hike and the market’s roughly coin-flip odds of another 25 bp hike on 27-28 October are the main drivers, while falling oil has not provided bullion any relief.

Technically, a daily close below $4,300 opens $4,230 first, then the $4,000 psychological area; resistance remains $4,400 and then $4,530. Sell-side targets have come down at the front end but remain constructive further out: Goldman cut its end-2026 fair value to $4,650 from $4,900, while Jefferies sees $4,500 in H2 2026 and Morgan Stanley’s $4,450 Q4 target was already hit.