Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 29, 2026 - Mitrade

AI desk brief

Gold held near $4,056 after testing $4,025–4,035 support, with the market reacting to the Fed’s 10-2 hold at 3.75%–4.00% and two dissents in favor of an immediate hike. The hawkish surprise pushed the implied probability of a December rate increase to 83%, pressuring spot to $4,035.48 before technical buying stabilized prices; silver also eased to $53.72, highlighting the drag from higher funding costs.

Near term, the key upside trigger is a break above $4,101–4,110, which would open $4,139–4,150 and then $4,215–4,227. Tonight’s U.S. Q3 GDP estimate and Core PCE are the next catalysts, while Middle East energy tensions and Brent above $115 continue to underpin safe-haven demand even as they may also reinforce Fed hawkishness.