Gold holds near US$4,000 on Sunday after a steep weekly loss, with Bank of Canada and Fed decisions ahead — Precious Metals Daily Update, October 25, 2026

Sunday screens still reflect Friday's close, with precious metals holding on the defensive after a steep weekly loss and no weekend trading to change the picture. Gold held around US$4,012.28 / C$5,618.41 per ounce on the Gold Stock Corp live ticker, down 0.70 percent in US dollars and down 0.69 percent in Canadian dollars on Friday's session. Silver held around US$53.92 / C$75.43 per ounce, down 1.26 percent in US dollars and down 1.35 percent in Canadian dollars, while platinum held around US$1,554.25 / C$2,179.06 per ounce, down 0.99 percent in US dollars and down 0.81 percent in Canadian dollars. Gold dipped below US$4,000 on Friday for the first time since mid-July, touching a three-month low near US$3,986.50 before recovering part of the drop, and it finished the week down about 3.5 to 4 percent, its steepest weekly loss since June and its second consecutive weekly decline. Silver's weekly fall was steeper than gold's, and platinum also ended the week lower. The driver remains energy-led inflation, not a loss of interest in physical metal. Brent crude settled near US$116.72 a barrel on Friday, after touching a more than five-month high during the session, as attacks in Saudi Arabia and renewed shipping tensions kept supply fears elevated. Higher oil lifts inflation risk, inflation risk keeps interest rates higher for longer, and higher rates reduce the relative appeal of holding non-yielding bullion. Traders expect the Federal Reserve to hold at its October 27 to 28 meeting, with hike odds for that meeting at only about 9 percent, but they price a much higher probability of a hike in December, at roughly 78 to 81 percent. External checks corroborated the site ticker's direction and scale, with Reuters reporting Friday spot gold at US$4,030.67 per ounce earlier in the session after the low near US$3,986.50, spot silver near US$53.81, and spot platinum near US$1,557.03, while late US reports put the gold close just below US$4,000. For investors: The US$4,000 level in gold is now the line that matters for the week ahead. Futures reopen on Sunday evening, and a thin reopen can gap either way, so Monday's first full session matters more than any Sunday headline. A recovery and hold above US$4,000 would suggest Friday's break was a stop-driven flush after a steep loss, while another close below it would keep momentum pointed lower into the central bank decisions on Wednesday. Canadian-dollar investors should watch the loonie as closely as spot, because oil strength can support the Canadian dollar while it pressures US dollar metals, which means the Canadian-dollar entry point can move independently of the US dollar chart. With the Bank of Canada and the Federal Reserve both deciding on Wednesday, October 28, staggered buying around confirmed levels is more disciplined than committing a full position ahead of those releases. For jewelers: The weekly correction has eased Canadian-dollar fabrication costs compared with a week ago, with gold near C$5,618.41, silver near C$75.43, and platinum near C$2,179.06 per ounce. That creates a practical restocking and scrap-pricing window, but it is a volatile one: quotes can reset quickly when trading reopens on Sunday evening and again around the October 28 decisions and the October 29 US data. Confirming metal pricing early in the week, keeping trade and scrap buying aligned to live spot, and telling customers clearly that prices are set at the time of transaction helps protect margins while buyers respond to lower prices after recent highs. Coming up — events that will move metals this week: Tuesday, October 27, 8:30 AM ET — US durable goods orders for September (consensus rebound of about 0.6 percent), followed at 10:00 AM ET by Conference Board consumer confidence for October (prior 81.9): firm data supports higher-for-longer rate expectations and pressures metals, while a soft print can weigh on the US dollar and steady bullion heading into the Federal Reserve meeting that begins the same day. Wednesday, October 28, 9:45 AM ET — Bank of Canada rate decision and Monetary Policy Report (prior 2.25 percent; most forecasters and market pricing lean to a hold at 2.25 percent, though a hike remains debated after September inflation rose to 3.1 percent): either outcome can move the loonie directly, and therefore Canadian-dollar gold, silver, and platinum prices, even if US dollar spot is unchanged. Canadian August GDP follows on Friday, October 30 at 8:30 AM ET. Wednesday, October 28, 2:00 PM ET — Federal Reserve rate decision, with the press conference at 2:30 PM ET (consensus hold at 3.75 to 4.00 percent, prior 3.75 to 4.00 percent; hike odds for this meeting are only about 9 percent, versus roughly 78 to 81 percent for December): the statement and press conference tone on oil-led inflation and December tightening will set yields and the US dollar, the two biggest near-term drivers for bullion. Thursday, October 29, 8:30 AM ET — US advance Q3 GDP and September PCE price index (GDP consensus about 3.0 percent annualized, prior Q2 growth 2.2 percent; PCE headline forecast up 0.5 percent month over month and core up 0.3 percent, prior core PCE 3.0 percent year over year in August): hot inflation with firm growth the day after the Fed decision would reinforce December hike expectations and pressure metals, while softer data would challenge that pricing. Live prices: https://www.goldstocklive.com