Gold Prices Rise as Fed Rate Hike Bets Fade

Gold prices rose to approximately US$4,180 an ounce on October 19, 2026, as traders lowered expectations for a US interest rate increase. The price surge followed remarks by Kevin Warsh, Chair of the Federal Reserve, which investors interpreted as a signal to keep rates on hold during the upcoming meeting.

This movement reversed previous momentum driven by a high US inflation report. That data had previously strengthened the US dollar and increased market bets on a quarter-point rate hike.

Gold has maintained a support level above US$4,000 since August, supported by its status as a safe-haven asset. Despite this recent gain, the metal remains down roughly 20% since the start of the US-Iran conflict in February 2026.