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Gold prices drop to lowest since mid-July amid inflation worries and expected Fed rate hike in December.

Market News
30 Oct 2026, 17:56 WIB
FXEmpire
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Bearish
Gold prices drop to lowest since mid-July amid inflation worries and expected Fed rate hike in December.

Spot gold prices fell for a second day, reaching their lowest levels since mid-July due to concerns over inflation and the Federal Reserve's anticipated interest rate hike in December. Strong U.S. GDP and inflation data have increased expectations for the Fed to raise rates, pressuring gold prices further. Despite geopolitical tensions and central bank activities, the main driver remains global interest rate policies. Technical analysis shows gold nearing critical support levels, with potential for a short-term bounce but overall bearish momentum unless key resistance levels are breached.

Gold price forecast is presented here with Pluang market context as of Oct 30, 2026 19:51 WIB. Among 150 priced US stocks tradable on Pluang, 61 rose and 88 fell today. Notable movers include ASX (ASE Technology Holding Co Ltd) at USD 40.65 with a 1-day change of -8.75% and Pluang order activity showing 95% Sell / 5% Buy, FCEL (FuelCell Energy Inc) at USD 11.20 down 8.05% with 61% Sell / 39% Buy, and NOK (Nokia Corp) at USD 8.63 down 7.30% with 79% Sell / 21% Buy.

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