Gold held near $4,010 an ounce on Tuesday 27 October, easing slightly in early Asian trading as a firmer US dollar weighed on the metal and investors waited for this week's US Federal Reserve policy meeting.

A steady start to Tuesday after Monday's recovery

Spot gold was down about 0.1 per cent at around $4,013.70 an ounce in early trading, according to Reuters reporting published on 27 October. A separate UK spot-price tracker put gold at $4,013.20 at 01:03 UTC the same day. The two readings point to a narrow range of roughly $4,010 to $4,014, with the exact figure depending on the time of day, rather than a single settled price.

By 1042 GMT, Reuters reporting carried by Kitco put spot gold lower at $4,000.52 an ounce, down 0.4 per cent, with December futures at $4,014.40 — so the day's range runs from about $4,000 to about $4,014 rather than a single settled price.

The steadiness follows a recovery on Monday, when gold climbed back above $4,000 as softer oil prices eased some inflation concerns ahead of the Fed meeting. Spot gold rose about 0.5 per cent to around $4,014 to $4,019 during Monday's session, according to Reuters reports carried by TradingView.

Why the dollar and the Fed matter for gold

That recovery matters because gold had slipped below $4,000 in the previous week, its lowest level since July, after elevated oil prices sharpened worries that US interest rates would stay higher for longer. Gold pays no interest, so expectations of higher rates raise the cost of holding it compared with assets that do pay a return.

What traders are watching next

Attention is now on the Fed's policy meeting on 27-28 October. Traders widely expect the central bank to leave interest rates unchanged this week, but expectations of a rate rise in December remain high, at around 80 per cent according to earlier Reuters reporting. US third-quarter GDP and September PCE inflation data, due on 29 October, are also in view, alongside decisions from the European Central Bank on 29 October and the Bank of Japan on 30 October.

Sources: Reuters via TradingView — Gold eases as stronger dollar weighs, Fed meeting in focus (27 Oct 2026); The Gold Price (UK spot tracker, updated 27 Oct 2026 01:03 UTC); Reuters via TradingView — Gold gains as oil slide cools inflation concerns (26 Oct 2026, Monday context).