Gold prices today (October 22): SJC gold unlikely to reverse its upward trend. - Vietnam.vn

AI desk brief

Spot gold was quoted at $4,140/oz at 4:30 a.m. Vietnam time, up 0.41% on the day, while SJC gold bars were about 12 million VND/oz above the implied international price of roughly 130 million VND/oz. The article says gold has come under pressure from persistent inflation and rising oil prices, which could keep the Fed tighter for longer, even as weaker U.S. housing data points to strain in rate-sensitive sectors.

CME FedWatch shows only a 15% chance of a Fed hike on Oct. 27-28, but a 90% chance of a December hike. The stronger-for-longer rate backdrop and a stabilizing U.S. dollar are presented as headwinds for gold, though the piece still frames SJC gold as unlikely to reverse its upward trend.