Gold Price Today: XAU/USD Rebounds Toward $4,150 After US Inflation Selloff

Key Takeaways

• Spot gold recovered toward $4,150 per ounce during Asian trading on October 15, following Wednesday’s inflation-driven selloff.
• US annual headline inflation accelerated to 3.7% in September, while core inflation rose to 2.6%, keeping further Federal Reserve tightening in focus.
• Today’s US producer-price report is the next major catalyst as traders assess whether gold’s rebound can withstand persistent interest-rate pressure.

Gold Price Today: XAU/USD Rebounds Toward $4,150 After US Inflation Selloff

Gold prices recovered during Asian trading on Thursday, October 15, as easing US Treasury yields and a softer dollar helped bullion regain ground after Wednesday’s sharp decline.

International spot gold traded around $4,146 per troy ounce at approximately 10:21 a.m. Beijing time, with the session’s reported high near $4,151. The recovery followed a fall below $4,100 after stronger-than-expected US inflation reinforced expectations that the Federal Reserve could raise interest rates again.

The rebound offers some relief after three consecutive sessions of losses. However, the inflation backdrop remains challenging. Traders now face another test from US producer-price data later today, which could influence the dollar, Treasury yields and expectations for the Fed’s next policy decision.

US Inflation Accelerates as Energy Costs Rise

September’s US Consumer Price Index increased 0.6% from the previous month, following a 0.4% rise in August. Annual headline inflation accelerated to 3.7% from 3.4%.

Underlying price pressures also strengthened. Core CPI, which excludes food and energy, increased 0.3% month on month, while its annual rate rose to 2.6% from 2.4%.

Energy accounted for a substantial share of the headline increase. Gasoline prices climbed 9.1% during September and contributed more than half of the monthly rise in overall consumer prices. Shelter costs increased 0.4%, adding another source of pressure.

For gold, the significance extends beyond the inflation figures themselves. Persistent price increases can encourage investors to seek assets that preserve purchasing power. However, they can also lead markets to anticipate tighter monetary policy, creating a competing influence on bullion.

Wednesday’s selloff suggests that the interest-rate response dominated the immediate market reaction.

Dollar and Treasury Yields Remain Central to Gold’s Direction

Following Wednesday’s CPI release, the US Dollar Index climbed to around 102.85, its strongest level since April 2025. The benchmark 10-year Treasury yield rose toward 5.3% during the session.

Both developments increased pressure on gold. A stronger dollar raises the cost of dollar-priced bullion for buyers using other currencies. Higher bond yields increase the potential income investors give up when holding an asset that pays no interest.

Thursday’s partial reversal in those moves helped gold recover. Nevertheless, a retreat in yields over several hours does not establish that the broader interest-rate outlook has changed.

The distinction matters for the durability of the rebound. Gold could benefit if bond yields continue to ease and the dollar gives back more of its post-inflation gains. Renewed strength in either market could make it harder for bullion to extend its recovery.

Nominal yields also provide only part of the picture. Inflation expectations influence real yields—the return on bonds after accounting for expected inflation—which are another important consideration for gold.

Why Inflation Is Creating Conflicting Signals for Bullion

Gold’s reputation as an inflation hedge does not mean its price must rise whenever an inflation report strengthens.

The market also considers how central banks are likely to respond. If stronger inflation raises expectations for higher interest rates, the resulting increase in yields and dollar strength can outweigh demand for inflation protection.

Energy-related inflation makes that balance particularly difficult. Higher fuel costs can lift consumer prices while simultaneously reducing households’ purchasing power and increasing business expenses.

For bullion, this creates two possible channels. Concerns about economic disruption may support defensive demand, while expectations of a restrictive policy response may weigh on prices.

The current recovery therefore needs to be assessed alongside changes in interest-rate expectations. A higher gold price alone provides limited evidence that the inflation-related pressure has passed.

US PPI Release Becomes the Next Market Test

The US September Producer Price Index is scheduled for release on Thursday, October 15, at 8:30 a.m. Eastern time, or 8:30 p.m. Beijing time.

PPI measures changes in prices received by domestic producers. It offers another perspective on inflation pressures, although it measures different transactions from CPI and does not translate directly into consumer-price changes.

A stronger-than-expected report could reinforce concerns that inflation remains persistent. If that pushes yields and the dollar higher, gold’s rebound could face renewed pressure.

A softer reading could provide some relief, particularly if it reduces expectations for additional monetary tightening. However, one producer-price report would need to be considered alongside Wednesday’s consumer-price figures and the broader economic picture.

The reaction across bonds and currencies will help show whether the release materially changes the policy outlook.

Gold’s Recovery Faces a Policy Test

Gold price today reflects an early recovery from Wednesday’s inflation shock, with spot bullion moving back toward $4,150 as Treasury yields and the dollar eased. The broader backdrop remains sensitive to persistent inflation and the possibility of further Fed tightening. Today’s PPI release will help determine whether the rebound gains support or encounters another round of pressure from US interest-rate expectations.