Gold drops to near US$4,000 on hot inflation, tech stock sell-off - The Business Times

AI desk brief

Gold fell to near US$4,000/oz and is tracking a second monthly loss as hotter US inflation, firmer oil prices and a tech-led equity sell-off weigh on sentiment. Spot gold was down 0.5% at US$4,003.44/oz in Singapore after touching a 0.6% intraday decline, with the metal off almost 4% in October and vulnerable to broader de-leveraging if equity losses extend.

The macro backdrop remains negative for bullion near term: the Fed has left open the possibility of another rate hike by end-2026, while September US PCE rose 0.5% m/m, the fastest since March. Silver is under heavier pressure, sliding to near US$51/oz and down about 15% in October, with the gold-silver ratio at its highest since December and technical traders warned of further long liquidation toward the mid-US$40s/oz.