Gold

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Gold is trading a two-sided policy-and-geopolitics tape as traders have pared bets on an October Federal Reserve hike after Chair Kevin Warsh declined to preview the meeting, even as last week's CPI and PPI prints remained hot. Hormuz tanker risk remains a two-sided overlay because further energy disruptions would keep inflation elevated and strengthen the case for tighter policy, while listed gold holdings remain elevated after a strong run of ETF creations. Physical demand in India improved as dealers quoted premiums for the first time in more than three months. Watch remaining data, this week's earnings wave, and how gold behaves if Hormuz risk re-prices crude into the FOMC.

Scheduled take · 2026-10-21T03:10:04Z