Gold prices slipped on Tuesday, weighed down by a firmer US dollar, while investors looked ahead to the Federal Reserve's policy meeting for fresh guidance on the outlook for interest rates, Reuters reported. Spot gold eased 0.3 per cent to $4,003.59 per ounce by 0530 GMT, while US gold futures for December delivery fell 0.5 per cent to $4,016.10.

Source: Reuters, Gold eases on firmer dollar ahead of Fed decision, Oct 27 2026 (via TradingView)

$4,003.59Spot gold per ounce on Tuesday, down 0.3% by 0530 GMT (Reuters)
$53.06Spot silver per ounce, down 1.6% on Tuesday (Reuters)
$1,506.94Platinum per ounce, down 1.3% on Tuesday (Reuters)
$1,030.75Palladium per ounce, down 1.8% on Tuesday (Reuters)

The Federal Open Market Committee meets on 27–28 October and announces its decision on Wednesday, followed by Chair Kevin Warsh's press conference. The Fed is widely expected to leave interest rates unchanged this week, with markets focused on policymakers' forward guidance for clues about the rate outlook. An early-Tuesday Reuters summary put the chance of a December rate hike at about 74 per cent on the CME FedWatch Tool, while a later Tuesday update, citing Reuters, put the December odds at about 82 per cent, up from about 75 per cent on Monday. Higher rates usually weigh on gold, because gold pays no interest.

Source: FinanceFeeds, Gold Price Today: $4,004 as Fed Meeting Opens, Oct 27 2026 (citing Reuters)

Tuesday's slip comes after a bruising week for bullion. On Friday 23 October spot gold fell below $4,000 for the first time since mid-July and touched a session low of $3,975.23; it lost 4 per cent on the week, the steepest weekly decline since June, Reuters reported. Gold bounced 0.4 per cent on Monday to $4,009.87 as Brent crude slipped, a move driven by lower oil rather than haven demand, before easing again on Tuesday — and at 09:58 GMT on Tuesday it was trading 0.5 per cent lower at $3,998.23 an ounce, back below the $4,000 line, according to Investing.com market data.

What happens next depends on data as much as on the Fed. September PCE inflation — the Fed's preferred inflation gauge — and third-quarter GDP follow on Thursday 29 October. Energy prices remain elevated after the recent wave of attacks around the Strait of Hormuz, keeping inflation risks in focus and sustaining expectations of further monetary tightening, which could weigh on non-yielding gold, Reuters said.

Yaani: gold is still holding just above the $4,000-an-ounce line — and because one ounce is about 31.1 grams, every $100 move on an ounce works out to roughly $3.2 on a single gram, which is why a small percentage slip in New York quickly shows up in jewellery-shop prices in Punjab and across India.