Oil and gold decline amid dollar rise
Oil and gold prices fell in Thursday trading, affected by the rise of the US dollar following the Federal Reserve's decision to hold interest rates steady. Brent crude dropped 0.7% to $114.50, and spot gold fell 0.7% to $4,039.26 per ounce, as investors await upcoming inflation data.
Oil and gold prices fell in morning trading on Thursday, October 29, 2026, affected by the rise of the US dollar following the Federal Reserve's decision to hold interest rates unchanged. Brent crude futures fell by 82 cents, or 0.7%, to $114.50 per barrel, while US West Texas Intermediate crude futures dropped $1.04, or 1%, to $101.74. In precious metals markets, spot gold fell 0.7% to $4,039.26 per ounce, while US gold futures for December delivery settled at $4,051. Silver fell 0.7% to $53.60, platinum dropped 0.3% to $1,533.50, while palladium rose 0.7% to $1,017.29. The decline in gold coincided with a rise in the dollar, as investors assess comments by Federal Reserve Chairman Kevin Warsh and the implications of the rate hold decision on the future path of monetary policy. The central bank indicated that upcoming inflation data will influence its future decisions, keeping expectations about interest rates shrouded in uncertainty. The dollar stabilized after the decision, which was approved by a vote of ten to two, with any change in borrowing costs postponed until after next week's midterm elections.