Gold prices saw a modest increase on Friday, October 16, 2026, as the U.S. dollar softened. Spot gold climbed 0.2% to $4,177.82 per ounce by 0433 GMT, while U.S. gold futures for December delivery rose 0.7% to $4,199.10. Despite the daily gain, the precious metal was still on track for a 0.5% weekly loss.
The price movement came as investors assessed signals from the Federal Reserve regarding interest rates. The central bank's stance on monetary policy has been a key factor influencing gold's performance this week.
The dollar's weakness provided some support to gold, as a weaker dollar typically makes gold cheaper for holders of other currencies. However, the metal's weekly decline suggests that broader market sentiment remains cautious.