Gold Price Forecast – Gold Drops Below $4000 - FXEmpire

AI desk brief

Gold is under pressure below the $4,000/oz handle after fresh U.S. inflation data and a firmer-for-longer Fed backdrop kept traders cautious. September PCE rose 0.5% m/m and 3.6% y/y, while core PCE increased 0.3% m/m and 3.1% y/y; the author argues inflation persistence can support safe-haven demand but also raises the odds of restrictive policy for longer. CME preliminary Oct. 29 data showed December 2026 COMEX gold settling at $4,031.40/oz, down $20.20.