Gold muted as market waits on US CPI

October 14, 2026 (MLN): Gold made little noise on Wednesday, with prices barely moving as traders stayed on the sidelines ahead of the US consumer price index (CPI) data, which could shape expectations on the Federal Reserve’s next move.

Currently, spot gold is slightly down 0.15% to $4,160.66  an ounce as of [09:28 am] PST, according to data reported by Mettis Global.

The CPI report is due at 1230 GMT, followed by producer price index (PPI) and retail sales data on Thursday.

New York Fed President John Williams reiterated that the central bank may need to raise rates once more this year to bring inflation down.

Fed Governor Christopher Waller said the recent rise in US bond yields reflects stronger economic growth rather than higher inflation expectations, which he said remain well-anchored, according to CNBC.

CME’s FedWatch Tool shows markets pricing in about a 23% chance of a rate hike this month and an 88% probability of an increase in December.

Geopolitical tensions offered some support to oil, which moved higher after Saudi Arabia’s Energy Ministry said an administrative building of Saudi Aramco in Dhahran was attacked, as fighting between Yemen’s Iran-allied Houthis and the kingdom intensified.

In other metals, spot silver fell 0.6% to $59.11 per ounce, platinum held at $1,664.19, and palladium rose 0.4% to $1,130.81.

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