Gold rises to $4,120 as dollar rally stalls
Gold rose to $4,120.71, up 0.33%, after headlines said the dollar pulled back from an 18-month high and Fed minutes kept rate risk alive.
Spot gold traded at $4,120.71 per troy ounce in the morning session, up $13.46, or 0.33%, from the previous close of $4,107.25. The session range so far was $4,104.32 to $4,142.45. The overnight move left gold firmer after several headlines described a rebound from a two-month low, while the session ahead is framed by Federal Reserve minutes, a dollar still described as near an 18-month high, and renewed debate over whether another rate hike is coming.
Continued from the evening edition of 7 October 2026. Prices below are frozen at publication — the live gold price has the current figure, and this guide covers what tends to move it.
Dollar pullback helps gold rebound
Invezz said gold rebounded from a two-month low as the dollar cracked, while BusinessLine said gold prices recovered from a two-month low as the dollar rally stalled. The Economic Times and Devdiscourse both reported that the dollar edged back from an 18-month high after the FOMC minutes. Reuters described the dollar as steady near an 18-month high after the minutes flagged inflation risks, and VT Markets said the USDX held near an 18-month high as the minutes supported the dollar. The shared theme is a firmer gold price against a still-elevated dollar backdrop.
- Gold rebounds from a 2-month low as the dollar cracks: can $4,275 revive the rally? Invezz
- USDX Holds Near 18-Month High as FOMC Minutes Support Dollar VT Markets
- Gold prices recover from two-month low as dollar rally stalls BusinessLine
- Dollar edges back from 18-month high after FOMC minutes The Economic Times
- Dollar steady near 18-month high after Fed minutes flag inflation risks Reuters
- FOREX-Dollar edges back from 18-month high after FOMC minutes Devdiscourse
Fed minutes keep rate risk in focus
Several headlines kept the Federal Reserve at the centre of the morning setup. NDTV Profit said the Fed minutes showed hawkish unity behind the September rate hike, while SSBCrack said the minutes indicated unanimous support for higher interest rates amid persistent inflation. The Washington Post said another rate hike was likely coming this year, and The Hill said Fed officials viewed another rate hike as likely. Reuters reported a more nuanced picture, saying policymakers were divided over the rate-hike logic in September, while another Reuters headline said some officials wanted to prepare for market stress.
- Fed Minutes Show Hawkish Unity Behind September Rate Hike NDTV Profit
- Federal Reserve Minutes Indicate Unanimous Support for Higher Interest Rates Amid Persistent Inflation SSBCrack
- Fed minutes: Another rate hike likely coming this year to combat persistent inflation The Washington Post
- Fed officials view another rate hike as ‘likely,’ meeting minutes show The Hill
- Fed minutes show some officials want to prepare for market stress Reuters
- Fed policymakers divided over rate-hike logic in September, minutes show Reuters
Yields and forecasts remain a headwind
Kitco said gold and silver slumped as Fed minutes kept December hike risk alive, and FOREX.com said the minutes kept pressure on XAU/USD. FXLeaders framed gold as rebounding from $4,070 while Fed pause bets clashed with 5.3% yields. TradingView said gold futures had slumped to a two-month low on a stronger dollar and high yields, while Kitco’s earlier report linked the slide in gold and silver to rising yields before the Fed minutes and a 10-year auction. These headlines point to rates, yields and the dollar as the main variables for the session.
- Gold Price Forecast: XAU/USD Rebounds From $4,070 as Fed Pause Bets Clash With 5.3% Yields FXLeaders
- Gold, silver slump as Fed minutes keep December hike risk alive - Kitco PM Report Kitco
- Gold Analysis: Fed Minutes Keep Pressure on XAU/USD FOREX.com
- Gold futures slump to two-month low on stronger dollar, high yields TradingView
- Gold, silver slide as yields rise before Fed minutes, 10-year auction - Kitco AM Report Kitco
Silver lags as ETF and reserves stories persist
Silver was weaker in the morning price data, at $59.07 per troy ounce, down 1.16%, with the gold/silver ratio at 69.8. Kitco also described gold and silver as slumping in its PM report. Away from the immediate price move, AD HOC NEWS said gold pared losses as record ETF inflows offset a Fed-fueled selloff. Chiang Rai Times reported that China’s gold reserves hit 2,409 tonnes in a 23rd month, while Yahoo News Singapore said Hong Kong and Singapore were pitching rival gold hubs to the bullion market.
- Gold Pares Losses as Record ETF Inflows Offset Fed-Fueled Selloff AD HOC NEWS
- China’s Gold Rush: Reserves Hit 2,409 Tonnes in 23rd Month Chiang Rai Times
- Hong Kong and Singapore pitch rival gold hubs to bullion market Yahoo News Singapore
- Gold, silver slump as Fed minutes keep December hike risk alive - Kitco PM Report Kitco
What to watch
- Further reaction to Fed minutes and year-end rate-hike risk.
- Whether the dollar stays near its reported 18-month high.
- Yield headlines after reports linking high yields to gold pressure.
- Silver’s weaker morning move versus firmer spot gold.
Gold price on 8 October 2026
| Spot gold | USD / oz | Change on previous close |
|---|---|---|
| Previous close | $4,107.25 | |
| Morning edition, (this page) | $4,120.71 | +$13.46 · +0.33% |
| Close | Recorded when the next session opens | |
Prices from XAUTicker, frozen when each edition was published. A close is added once the next session’s first edition records it.