Gold Price Just Hit a Yearly Low. What Are Analysts Saying? - Yahoo Finance

AI desk brief

Gold fell below $3,900/oz on Oct. 30, its lowest level of 2026 and about 30% below the January peak, as hawkish Fed bets, stronger U.S. data, and elevated real yields pressured the metal. Traders are now watching $4,000 as fragile resistance/support, with Standard Chartered flagging $3,886 as key support; a sustained break could deepen the correction.

The selloff was reinforced by Q3 GDP upside, September PCE at 0.5% m/m and 3.6% y/y, and continued expectations for a possible December Fed hike despite this week’s hold at 3.75%-4.00%. Higher oil prices from Middle East supply fears and speculative selling/ETF outflows also added to the downside. Longer term, a Reuters poll of 30 analysts still sees median gold forecasts at $4,495 for 2026 and $4,650 for 2027, but near-term risks remain skewed lower until rates peak.