Gold Falls to Three-Month Low, Oil Prices Fuel Fed Rate Concerns

Gold fell to a three-month low, trading below $4,000 an ounce on Saturday after dropping the previous day to near $3,975.23, its weakest since mid-July. Spot gold was quoted at $3,996.30 an ounce, down 0.6% to $3,998.35 earlier on Friday. The metal lost about 4% over the week—its biggest weekly decline since June—and is down 8.5% since the start of 2026. Oil prices rose on concerns about potential supply disruptions after Houthi attacks in Saudi Arabia, lifting worries that the Fed may keep rates higher for longer. Markets expect no change at the Oct. 27-28 meeting, with investors also watching the Oct. 29 PCE report. Selling pressure from weaker tech stocks and related margin calls pushed some investors to raise cash by selling gold and silver.