Gold eases after climbing over 1% in previous session

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The Economic Times daily newspaper is available online now. Read Today's Paper Gold eases after climbing over 1% in previous sessionReutersLast Updated: Oct 16, 2026, 07:38:00 AM ISTSynopsis

Gold prices slipped 0.4% to $4,152.99 per ounce in early Asian trading on Friday, as investors scrutinize the Federal Reserve's future policy after recent inflation updates. US producer prices surged the most in over four years, driven by escalating costs. Meanwhile, spot silver and platinum dipped, while palladium slightly increased amid persistent geopolitical concerns. Analysts are vigilantly evaluating how prospective rate hikes might influence gold's status as an inflationary safeguard.

Gold prices inched lower during early Asia trade on Friday after rising more than 1% in the previous session, while market participants tried to gauge the Federal Reserve's future policy trajectory.

Fundamentals

Spot gold was down 0.4% at $4,152.99 per ounce, as of 0005 GMT, after gaining in the previous session on support from a weaker dollar and lower US Treasury yields. However, prices were on track for a weekly fall.

US gold futures for December delivery rose 0.1% to $4,173.90.

US producer prices increased by the most in 4-1/2 years in September amid rising costs for goods and services, the latest indication of inflation broadening out beyond energy products. The data followed Wednesday's consumer price report, which showed prices accelerated in September on a surge in gasoline costs.

According to CME's FedWatch Tool, traders are currently pricing in a 28% probability of a rate hike later this month and 93% chance of an increase in December.

Live Events

Chicago Fed President Austan Goolsbee said this week's stronger-than-expected inflation data has been "discouraging."

Meanwhile, Fed Bank of Cleveland President Beth Hammack said the Fed might need to hike rates more aggressively if there were to be a notable deterioration in the public's inflation expectations.

While gold is considered a hedge against inflation, higher interest rates reduce the appeal of the non-yielding asset.

On the geopolitical front, Yemen's Houthis fired missiles at the presidential palace complex in the southern city of Aden, killing five people, the government said, as the Saudi-led coalition listed dozens of Houthi attacks on Saudi infrastructure in recent weeks.

Spot silver fell 0.6% to $57.09 per ounce, platinum lost 0.1% to $1,624.05 and palladium rose 0.2% to $1,128.70. All three metals headed for weekly losses.

Data/Events (Gmt)

0500 Japan Chain Store Sales YY Sep

0900 EU Total Trade Balance SA Aug

0900 EU HICP Final MM, YY Sep

1230 US Import Prices YY Sep

1315 US Industrial Production MM Sep
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