I. Gold Remains Capped Beneath Short-Term Moving Averages, Testing 4,150 in Asian Trade



On October 13, spot gold closed near $4,160 per ounce, with December gold futures retreating in tandem.

During Asian trading on October 14, spot gold extended its corrective decline.

As of the latest market quotes, spot gold traded at $4,150.76 per ounce, down $10.28 or 0.25% intraday.

The session has logged an intraday high of $4,163.58 against a low of $4,147.57.

From the 1-hour chart perspective, moving averages display a bearish alignment:
MA1 sits at $4,156.66, MA20 at $4,157.05, and MA30 at $4,169.90, keeping bullion pinned beneath overhead resistance.

II. Critical Energy Facilities Struck, Benchmark Contracts Touch Two-Week Highs



Fresh developments have unfolded across the Middle East.

A ballistic missile struck the Saudi Aramco headquarters campus in Dhahran, damaging the top three floors of a building and triggering fires.

Concurrently, coalition forces conducted counterstrikes against targets in Yemen, while maritime transit along the Red Sea coast and Bab-el-Mandeb faced renewed security disruptions.

Driven by these events, spot energy benchmarks and futures contracts advanced visibly, refreshing two-week highs.

III. Fed Officials Signal Potential Rate Hike This Year as December Odds Reach 88%



On monetary policy, following the Fed's September rate increase that brought the target range to 3.75%–4.00%, official remarks remain the anchor for market pricing.

Boston Fed President Susan Collins stated that a modest rate hike before year-end would be appropriate.

She noted that artificial intelligence infrastructure investments, tariff policies, and volatile energy commodity prices could exert complex pressures on the inflation trajectory.



New York Fed President John Williams indicated that one additional rate hike might be necessary in 2026, though no basis exists yet for 2027 action, anticipating headline inflation will gradually return to the 2% target next year.

Fed Governor Christopher Waller noted that rising Treasury yields primarily reflect economic growth momentum and capital expenditure in artificial intelligence.

CME FedWatch calculations indicate that traders price an approximate 20% probability of an October rate increase, alongside an 88% likelihood of a hike in December.

IV. US Dollar Index Pulls Back from Highs as Markets Await US CPI Inflation Print

The US Dollar Index retreated modestly from its recent 18-month peak.

In sovereign debt markets, the 2-year Treasury yield edged higher ahead of the inflation data, while the 10-year yield held near elevated levels after easing from recent multi-decade peaks.

The International Monetary Fund highlighted latent vulnerabilities associated with mounting public debt burdens and elevated sovereign yields.

Market focus today remains glued to the forthcoming US Consumer Price Index (CPI), Producer Price Index (PPI), and scheduled public remarks from Federal Reserve policymakers.

(Compiled and Edited by Lucky Gold Global Limited)