Oil’s Return to $110 Boosts Fed Hike Expectations, Pressuring Gold for Fourth Day Toward $4,100 - TradingKey

AI desk brief

Gold fell for a fourth straight session, trading near $4,114 after an intraday low of $4,106.01 and approaching key support at $4,100; a break would expose $4,066, while a recovery back above $4,160-$4,180 would ease the short-term downside. The move is being driven by persistently high oil prices, which are reviving sticky-inflation concerns and lifting the market’s pricing for a December Fed hike to near 90%, alongside a stable dollar index around 101.8.

Near-term risk remains skewed lower ahead of the Oct. 27-28 FOMC meeting and PCE inflation data. The article flags $4,200-$4,230 as the next resistance band if gold can reclaim lost ground.