Gold price today (October 18): 'Stuck' in the $4,100-$4,200/ounce range. - Vietnam.vn

AI desk brief

Gold ended the week at $4,165/oz after briefly testing $4,200/oz, leaving the market stuck in a $4,100-$4,200/oz range as traders wait for the Fed’s Oct. 29 decision and the Sept. PCE report. The article says lower real yields would support gold, but renewed inflation pressure from energy could keep December hike expectations alive and cap the rebound.

On flows, the WGC said the PBoC bought another 23t of gold in September, the largest monthly purchase since Oct. 2023, taking Q3 buying to 63t, also the strongest quarter since Q3 2023. China gold ETFs added 11t in September to a record 304t, with diversification demand, weaker equities and falling bond yields cited as drivers. Jefferies cut its Q4 average gold forecast to $4,400/oz from $4,600 and its 2026 average to $4,511/oz from $4,595, but still sees $5,000/oz in 2027 on debt, deficits, persistent inflation and central bank buying.