Gold price fell 0.3% to $4,003.59 an ounce on Tuesday, October 27, 2026, as the Federal Reserve began its two-day policy meeting. December US gold futures declined 0.5% to $4,016.10.

Key Takeaways

  • Spot gold remained above its October 23 low of $3,975.23, the lowest in three months.
  • Silver, platinum and palladium each fell more than 1% on Tuesday.

Gold price stays near three-month low

The Tuesday spot quotation was reported without a precise observation time. Earlier in the session, gold traded at $4,010.39 at 00:53 GMT.

On Friday, October 23, spot gold fell below $4,000 for the first time since mid-July and touched $3,975.23. It lost 4% that week, its steepest weekly decline since June.

The dollar was near a two-week high on Tuesday. The timing of its strength alongside gold’s decline does not by itself establish what caused the move.

ItemDetails
Spot silver$53.06 an ounce, down 1.6% on October 27
Spot platinum$1,506.94 an ounce, down 1.3% on October 27
Spot palladium$1,030.75 an ounce, down 1.8% on October 27

Fed decision and inflation data ahead

Traders priced an approximately 11% chance of a rate increase at the Fed’s October 27–28 meeting and an approximately 82% chance of an increase in December.

The Fed’s decision is due Wednesday, October 28, followed by Chair Kevin Warsh’s press conference. September personal consumption expenditures inflation data and third-quarter US GDP are scheduled for Thursday, October 29.

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