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2026-10-31 00:32:30
Gold prices fell below $3,900 an ounce, hitting their lowest level since October 2025, as rising energy prices and persistent inflation concerns reinforced market expectations that the Federal Reserve will maintain high interest rates for an extended period. Major central banks, including the Fed and the European Central Bank, kept interest rates unchanged this week, but signaled that the fight against inflation is not over, highlighting the risks posed by soaring energy costs. Meanwhile, US data released on Thursday showed that inflation accelerated in September, with core price increases also widening, reinforcing market expectations that the Fed may raise rates in December. A sharp sell-off in technology stocks due to concerns about rising spending on artificial intelligence could trigger cross-market liquidations and margin calls, putting pressure on gold. Furthermore, oil prices rose due to concerns about escalating conflict in the Middle East, while physical gold demand in major Asian markets remained weak.
