Trending
Gold
Source: Newsmaker.id
Gold prices edged lower in volatile trading on Tuesday (October 20, 2026), extending losses that could put the precious metal on track for a third consecutive session of declines. Despite a weaker US dollar, the positive impact on bullion remained limited as sharp fluctuations in crude oil prices continued to influence market sentiment.
As of 3:31 p.m. New York time, or 02:31 a.m. Jakarta time on Wednesday (October 21), spot gold fell 0.4% to $4,122.41 per troy ounce, while gold futures slipped slightly to $4,141.01 per ounce. Bullion initially gained ground as oil prices reversed earlier advances and moved into negative territory. However, gold gradually surrendered those gains and turned lower as crude oil recovered from its session lows, renewing pressure on the precious metal.
Oil price movements remained a key driver of gold's direction amid a lack of other significant market catalysts. Crude prices initially surged after Brent futures, the global oil benchmark, settled near a five-month high in the previous session. However, the rally quickly reversed following reports of potential diplomatic progress between the United States and Iran. Qatar and Pakistan reportedly proposed a compromise framework aimed at addressing the demands of both countries, raising hopes that tensions in the Middle East could ease.
Meanwhile, precious metals investors remained cautious ahead of the Federal Reserve's monetary policy meeting scheduled for October 27–28. Energy price fluctuations have become increasingly important as they could influence the US inflation outlook and the Fed's future interest rate decisions. A sustained rise in oil prices could intensify inflationary pressures, while declining energy costs may help ease price concerns and create greater flexibility for monetary policy.
Overall, gold remains vulnerable to uncertainty surrounding crude oil prices, US-Iran diplomatic developments, and expectations for Federal Reserve policy. The weaker US dollar has so far failed to provide sufficient support for bullion to sustain a recovery. With energy markets remaining volatile and the interest rate outlook still uncertain, gold prices could continue to experience sharp fluctuations in the near term.(mrv)
Source : Newsmaker.id