Forex News Today: Market Analysis for Traders

Gold fell about 1.49% to $4,163 on Monday as a firmer US Dollar, WTI near $93.69 and Fed hike bets weighed on XAU/USD. CPI and PPI are due this week.

Crude oil is near $104 a barrel as attacks on Riyadh's airport and tankers in the Strait of Hormuz put a fragile export recovery at risk.

Dated Brent neared $150 per barrel on October 12, 2026, far above futures near $105. GuruFocus linked the gap to small-cap oil producer Barnwell Industries (BRN).

Gold broke two resistance lines intraday while the US dollar pushed higher. Analyst Anna Radomska says both moves still need daily closes, at 4202 for gold and 102.05 for the dollar.

Saudi Energy Minister Abdulaziz bin Salman said the kingdom will expand oil pipeline capacity to 10 million barrels per day within two to three years, citing Houthi attacks.

Physically backed gold ETFs posted a 12th straight week of net inflows, with $2.08 billion in and $1.46 billion out. US funds lost $132 million; China added $365 million.

Goldman Sachs raised its December 2026 Brent forecast from $85 to $90 per barrel and kept its 2027 average at $80. It put the Brent risk premium at slightly above $20.

WTI crude rose about 1% to around $91.90 on Monday. Houthi attacks on Saudi Arabia outweighed Russia-Ukraine energy ceasefire hopes and a Russian diesel supply deal.

Gold slipped to around $4,176 on Monday after failing to hold above $4,200. Traders are waiting for Wednesday's US CPI data, which could shape the Fed's next move.

China imported over 1,000 tonnes of gold in January-August 2026, worth a record $158.8 billion, as the PBOC extended its buying run to 23 months.