Gold eases on firm dollar; spotlight on US inflation data

SENSEX 74,368.68

 -360.59

NIFTY 23,106.55

 -39.60

CRUDEOIL 9,505.00

 -68.00

GOLD 148,250.00

+ 332.00

SILVER 212,340.00

+ 1,153.00

SENSEX 74,368.68

 -360.59

NIFTY 23,106.55

 -39.60

NIFTY 23,106.55

 -39.60

CRUDEOIL 9,505.00

 -68.00

CRUDEOIL 9,505.00

 -68.00

GOLD 148,250.00

+ 332.00

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Spot gold fell 0.2% to $4,164.45 per ounce by 0201 GMT after ‌hitting a one-week peak on Monday

By Reuters

Updated - October 16, 2026 at 03:08 PM.

• Dollar holds near 18-month high
• US CPI due on Wednesday
• Fed's ​Hammack backs restrictive policy

Gold prices ‌eased on Tuesday as the US dollar held ​firm, while markets focused on upcoming ⁠US inflation prints for fresh signals on the Federal Reserve's interest-rate trajectory.

Spot gold fell 0.2% to $4,164.45 per ounce by 0201 GMT after ‌hitting a one-week peak on Monday.

US gold futures for December delivery fell 0.1% at $4,187.90.

The ‌US dollar lingered near an 18-month high ‌scaled ⁠in the previous session, making dollar-denominated metals more expensive ⁠for holders of other currencies.

The Consumer Price Index (CPI) is due on Wednesday, and the Producer Price Index (PPI) report is scheduled for ​Thursday.

"US CPI data will ‌be critical for gold in the short-term," said Kyle Rodda, senior financial market analyst at Capital.com.

If inflation comes in hotter than expected, particularly on the core ‌measure, and prompts even a modest increase ​in expectations of an October rate hike, it could result in another dip in gold, he ⁠added.

When interest rates are elevated, investors typically gravitate toward yield-bearing assets rather than gold.

Currently, traders see only a ‌21% chance of a Fed rate hike this month but are pricing in an 88% chance of a December increase, according to CME's FedWatch tool.

Cleveland Fed President Beth Hammack said the US central bank should move "relatively quickly" to a more restrictive monetary policy stance ‌to control inflation, which she feels has become broader-based and is ​starting to influence firms' price-setting plans.

On the geopolitical front, Saudi Arabia said it was facing ⁠a new barrage of incoming fire and that Riyadh ⁠airport would remain shut for now, days after Saturday's deadly missile strike on a departure terminal that ‌was claimed by Yemen's Iran-allied Houthis.

Among other metals, spot silver eased 0.5% to $60.01, platinum fell 0.2% ​to $1,682.47, and palladium fell 0.5% to $1,137.69.

Published on October 13, 2026

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