Spot gold is trading modestly lower this morning, Wednesday, October 28, 2026, as attention turns to today’s Federal Reserve policy decision. The 8:25 a.m. EDT snapshot puts the spot bid at $4,073.00 per troy ounce, down $2.00, or 0.04%, with an ask of $4,072.4 and a session range of $4,040.50–$4,084.10. Firmer oil prices and a strong U.S. dollar are weighing on bullion, reversing the supportive backdrop described in yesterday’s report. The focus is now on the Fed’s policy message and its implications for interest rates, inflation and gold demand, rather than Tuesday’s gains in gold and silver.
At that morning snapshot, gold (XAU/USD) remains above the important $4,000 psychological threshold but below today’s session high. Prices are indicative and will fluctuate as markets assess the Federal Reserve’s decision and accompanying guidance.
Technical Levels in Focus
• Support: Today’s $4,027.30 session low provides the nearest observed downside reference, followed by the $4,000 psychological level. Today’s published technical analysis identifies additional support near $3,972 and $3,933.
• Resistance: The $4,066–$4,092 area encompasses a published near-term resistance level and today’s session high. Further resistance is identified near $4,100 and $4,141; these are analytical reference points, not assured price targets.
• Moving Averages: Today’s analysis places gold near its 100-hour moving average, while a separate intraday update reports pressure below the 50-period exponential moving average. These differing chart measures suggest an uneven recovery rather than a clearly established upward trend.
Momentum and Trend Assessment
• RSI: Today’s hourly-focused analysis describes RSI near the neutral 50 mark, replacing the earlier 32–35 estimate. This points to limited directional conviction rather than a confirmed oversold condition.
• MACD: Today’s analysis reports the indicator in negative territory, suggesting that momentum behind the recent rebound has weakened even as gold holds above $4,000.
• Timeframe Outlook: Intraday conditions remain mixed, while current short- and medium-term trend assessments are bearish and the longer-term view is neutral. The overall tone remains cautious ahead of the Fed announcement, with today’s price range providing context for the market’s next move.
Intraday actionable information
We have an FOMC in the calendar today at 2 pm EDT therefore volatility leading into and beyond should be expected for indices/precious metals/currencies alike. Our new Fed Chair is still new, so although the Fed watch tool sits at 90+% that the Fed leaves the interest rate unchanged for this meeting, anything is possible in terms of the FOMC vote. So despite the idea being presented below, use caution and time your trades:
- Buy price range: 4033.1~4042.8 [the latter level already touched in the overnight session]
- Stop 4019.3 [wide for FOMC reasons]
- Target: 4103.6
- Chart: https://app.screencast.com/igvHptjGPEblM
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