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CommoditiesMediumUpdated•Originally published 15 October 2026•Updated 15 October 2026•
1 min read

Gold Nears Session Highs as Philly Fed Manufacturing Index Misses Forecasts

Key Facts

1The Philadelphia Fed manufacturing business outlook fell to 20.9 in October, significantly missing the expected reading of 28.4.

Gold prices rose toward session highs following a disappointing manufacturing survey from the Philadelphia Federal Reserve. Kitco reported that the manufacturing business outlook index fell to 20.9 in October from a reading of 37.8 in September, significantly missing analyst forecasts of 28.4.

The report indicated a slowdown in regional industrial momentum, with 20% of firms reporting a decrease in activity compared to 8% in the previous month. While the employment index continued to signal overall growth, it edged down 3 points to 9.1 in October, and the average workweek index declined 11 points to 7.5, its lowest reading since June.

Latest Updates · 1

  1. Notable·

    Update: Spot gold prices rose 1.63% to trade at $4,156 per ounce on October 15, 2026. The gains occurred despite September Producer Price Index data surging above expectations, as the metal maintained momentum regardless of the inflation print.