Gold lacklustre as higher-for-longer rate outlook weighs on sentiment - CNBC

AI desk brief

Gold eased as investors priced a higher-for-longer global rate backdrop and a firmer dollar, with spot gold down 0.2% at $4,345.99/oz and December U.S. gold futures up 0.2% at $4,382.70/oz. The stronger dollar and elevated yields are limiting bullion’s appeal, while short-term direction remains sensitive to oil and Middle East developments.

BMI kept its 2026 gold forecast at an average $4,400/oz and said geopolitical risks plus continued central bank buying should provide a floor near $3,800/oz. Elsewhere, silver fell 0.4% to $66.78/oz, platinum dropped 0.8% to $1,818.21/oz and palladium lost 0.4% to $1,302.61/oz.