Gold Drops Below $3,900 to 2026 Low as December Fed Hike Bets Persist
Gold fell below $3,900 an ounce on October 30, its lowest price of 2026 and about 30% below its January high. Strong U.S. GDP and September PCE inflation at 0.5% monthly and 3.6% yearly kept December Fed rate hike bets alive despite rates holding at 3.75% to 4.00%. Traders watch $3,886 as support and $4,000 as a fragile level. A Reuters poll of 30 analysts sees gold at $4,495 in 2026.