Gold slides ahead of U.S Fed minutes

October 07, 2026 (MLN): Gold prices edged lower on Wednesday as investors waited for the minutes of the US Federal Reserve's September meeting, hoping for clues on whether policymakers still lean towards more rate hikes.

Currently, spot gold is down 0.2% to $4,133.8  an ounce as of [10:58 am] PST, according to data reported by Mettis Global.

The Federal Open Market Committee is due to release the minutes later in the day.

Fed officials have offered differing views ahead of the release.

San Francisco Fed President Mary Daly said the need for further tightening hinges largely on whether the forces driving inflation fade or persist. Kansas City Fed President Jeff Schmid argued that rates must still go higher to bring inflation under control, according to CNBC.

Recent soft economic data has reduced expectations of a hike in October, but traders still see an 85% probability of an increase by December.

Higher interest rates tend to push investors towards assets that generate yield, which weighs on non-interest-bearing gold.

Among other precious metals, spot silver fell about 1% to $61.12 per ounce and palladium lost 0.3% to $1,168.20, while platinum gained 0.2% to $1,704.25.

Copyright Mettis Link News