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Friday, October 23, 2026Updated 07:24 UTC

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Gold heads for sharpest weekly decline in four months on Fed rate outlook

Source: Economic Times · Oct 23, 2026 02:26 UTC

Aerial view of refinery storage tanks near Houston on the Gulf coast — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

Gold prices took a hit on Friday amid strong indicators of US economic growth and climbing oil prices. Spot gold prices sank to their lowest since August, and US gold futures mirrored the drop. Positive employment figures showed a decrease in unemployment claims, hinting at stronger job growth in October.

Read the full story at Economic Times

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