Gold flat at $4,194 as dollar strength limits upside

October 13, 2026 (MLN): Gold prices remained stable on Tuesday as the US dollar stayed firm and investors waited for US inflation data for clues on the Federal Reserve’s rate path.

Currently, spot gold is slightly up 0.02% to $4,194.47  an ounce as of [10:36 am] PST, according to data reported by Mettis Global.

The dollar hovered near an 18-month high reached on Monday, which makes dollar-priced bullion costlier for buyers holding other currencies.

The US Consumer Price Index (CPI) is due on Wednesday, followed by the Producer Price Index (PPI) on Thursday.

According to CME’s FedWatch tool, traders see a 21% chance of a Fed rate hike this month, but an 88% chance of an increase in December.

Cleveland Fed President Beth Hammack said the central bank should shift relatively quickly to a tighter policy stance to contain inflation, which she believes has widened and is beginning to shape firms’ pricing plans, according to CNBC.

On the geopolitical front, Saudi Arabia said it was facing a fresh wave of incoming fire and that Riyadh airport would stay closed for now.

This follows Saturday’s deadly missile strike on a departure terminal, which Yemen’s Iran-aligned Houthis claimed.

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

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