DOREX WEEKLY GOLD MARKET UPDATE – w/e 30.10.26: Gold Faces Selling Pressure as Global Markets Seek Liquidity - Press Release Distribution Australia

AI desk brief

Gold was sold off last week as global markets sought liquidity, with spot trading between US$3,874.08 and US$4,081.97 and closing at US$3,880.00. The report says tech-led equity volatility and AI valuation concerns prompted investors to liquidate gold holdings, while stronger-than-expected U.S. PCE inflation (+0.5% in September), Federal Reserve policy expectations, firmer Treasury yields and a stronger dollar all weighed on prices.

Brent crude nearing US$118/bbl after Strait of Hormuz shipping attacks added to inflation concerns, but the same geopolitical backdrop was not enough to offset short-term selling pressure. Asian physical demand was described as cautious, with Indian buyers deferring purchases and Chinese demand only partly supportive. The near-term setup remains driven by U.S. election risk, October payrolls, and whether further equity weakness again forces liquidity sales in bullion.