22.10.2026 10:32
The geopolitical tension escalated after a drone attack on the Shaybah oil field in Saudi Arabia killed 2 people and the US evacuated its diplomatic personnel from the region; this triggered expectations that rising oil prices would feed inflation and prolong central banks’ high-interest-rate policies. With these developments, the ounce of gold fell to $4,091, dropping below the critical $4,100 threshold for the first time since October 14.
The decline in gold prices continues, gaining momentum on the new trading day as well. The expectation that rising energy costs may increase inflation pressure on a global scale and, accordingly, that central banks may keep interest rates high for a long time has created serious pressure on the non-yielding precious metal.
OUNCE GOLD AT ITS LOWEST LEVEL SINCE OCTOBER 14
Spot gold retreated to $4,091.23 per ounce as of 07:13 TSI. With this move, spot gold fell below the critical $4,100 threshold for the first time since October 14. Gold's daily loss exceeded 1 percent.
RISE IN OIL AND GEOPOLITICAL TENSIONS PRESSURES GOLD
Brent oil prices hovering near their highest levels of the last five months and an unmanned aerial vehicle (UAV) attack on Saudi Arabia's Shaybah oil field escalated unease in energy markets. Following reports that two people lost their lives in the attack, a new wave of increases was seen in crude oil prices.
As another reflection of the escalating tension in the region, the US administration's evacuation of some personnel and their families assigned to diplomatic missions in Saudi Arabia increased risk perception in the markets. The concern that rising oil prices would feed inflation and prolong the high-interest-rate environment was the main driving force behind the decline.
CURRENT GOLD PRICES TABLE
Prominent gold types and current price levels in the market, which started the day with a decline, are as follows: