Gold hovers near $4,040 while silver slides toward $52.69 after the Fed left rates unchanged but left a December hike possible.

Gold held near $4,040 on Wednesday after a divided Federal Reserve left its benchmark rate unchanged at 3.75%‑4% but left the door open for a December hike. The split vote – 10‑2 with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting for an immediate quarter‑point increase – kept markets focused on upcoming inflation data rather than prompting a sharp move in bullion.

Technical picture for gold

• Gold rebounded from sub‑$4,000 earlier in the week but was rejected at $4,084, a level where a falling trendline caps rallies
• Key support sits at $4,024, followed by $3,986
• Resistance lies at $4,084 and then $4,146

Silver under pressure

• Silver traded around $53.31 inside a falling channel after being turned back at $54.68
• A break below $52.69 could open the next support level at $51.30
• The metal is more sensitive to policy because industrial demand accounts for over half of its consumption

What traders are watching next

• September PCE inflation data and the first third‑quarter GDP estimate due Thursday
• Potential reaction to any Fed commentary that could shift expectations for a December rate hike
• Gold’s ability to hold $4,024 and silver’s hold above $52.69 as short‑term support

Related news

• Bitcoin slides below $80,000 as Fed holds rates with hawkish tone
• Warsh signals higher rates but keeps Fed options open
• USD/CAD trades near 1.4000 as falling wedge narrows
• Ripple and Stellar fall as hawkish Fed tone pressures crypto market

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• ITF trading signals for gold and forex
• Copy verified traders with ITF Copy Trading
• This week’s economic calendar

This article is compiled from international market news for information only. It is not investment advice.