Global gold prices recovered slightly, but the outlook remains challenging. - Vietnam.vn

AI desk brief

Spot gold fell 2.7% to $4,028.39/oz in the reported session as October US CPI rose 0.4% month-on-month versus 0.3% expected; the dollar and Treasury yields rose. CME FedWatch put the probability of a December 50bp hike at 10%, up from zero, with a 25bp hike fully priced. Further dollar strength could pressure gold, though nominal yields alone do not establish real-yield changes. Official demand provides a counterweight: WGC reported central-bank purchases of 321 tonnes in Q3 2026, up 42% year-on-year versus a five-year average of 227 tonnes. Singapore also announced plans for foreign-central-bank gold custody services.