Gold Steadies Near $4,000 as Traders Prepare for Fed Rate Call

Yihui Xie

Updated Tue, October 27, 2026 at 3:10 AM PDT 2 min read

GC=F

+0.95%

CL=F

-1.99%

(Bloomberg) -- Gold (GC=F) held near $4,000 an ounce as traders prepared for a Federal Reserve decision this week that's expected to keep interest rates steady.

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Bullion was little changed, having added 0.5% in the previous session. Oil fell for a second day as a new round of diplomatic efforts raised hopes that an escalation of the US-Iran might be averted, while stocks were set to rise as enthusiasm for artificial intelligence revived following a selloff last week.

Still, gold remains under pressure. Alongside inflationary concerns from stubbornly high energy prices, the precious metal was caught up in the broader unwind of the AI trade, with investors selling it to cover losses elsewhere when technology stocks tumbled.…