Gold prices declined to $4,040 on October 28 as a two-day rally lost momentum while markets await the Federal Reserve's interest rate decision. Simultaneously, crude oil prices rose following reports of Trump administration plans for major attacks against Iran after the midterms. These movements reflect market reactions to both upcoming economic policy decisions and geopolitical tensions.
U.S. inflation accelerated to 3.7% year over year in September, while fund flows and futures positions showed investors moving in different directions on gold.
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