FXStreet’s Nov. 2 report valued spot gold at roughly $3,895 a troy ounce during Asian hours, while recent U.S. releases put September inflation at 3.6% and third-quarter growth at a 3.4% annualized pace.
The Bureau of Economic Analysis (BEA) reported that its personal consumption expenditures (PCE) price index increased 3.6% from a year earlier in September and 0.5% from August. Excluding food and energy, the index rose 3.1% year over year and 0.3% month over month. The annual figures compare September with the same month in 2025; the monthly readings compare it with August. The BEA released the data Oct. 29 at 8:30 a.m. EDT.
The agency’s advance estimate calculated third-quarter real gross domestic product growth at a 3.4% annualized rate. The second quarter’s rate was 2.2%. The BEA issued that estimate on Oct. 29 at 8:30 a.m. EDT.
Gold had been quoted at a different level earlier that evening. An EconoTimes Sunday market update put spot gold at $3,902.08 an ounce at 6:31 p.m. ET (23:31 UTC) Nov. 1 and reported a 0.69% daily gain. FXStreet’s report followed at 7:45 p.m. ET (00:45 UTC Nov. 2) and said the previous session’s low was near $3,870. The readings were reported at different times.
At its Oct. 28 meeting, the Federal Reserve made no change to its 3.75% to 4% target band for federal funds. The decision drew two dissents in favor of a quarter-point increase. The Fed described inflation as still elevated.
FXStreet said higher interest rates can weigh on gold because bullion pays no yield. When interest-bearing assets offer returns, holding gold carries an opportunity cost, the outlet’s analysis said.
The next U.S. Employment Situation release, covering October, is due Nov. 6 at 8:30 a.m. EST. The next Federal Open Market Committee meeting follows on Dec. 8-9.
