Gold prices moved lower on Tuesday, October 20, as rising oil prices heightened inflation concerns and investors assessed the outlook for Federal Reserve policy. Kitco reported a spot-gold bid of $4,123.60 per troy ounce at 7:57 a.m. Eastern Daylight Time, down $16.30, or 0.39%, from its reference price. Reuters separately reported spot gold at $4,120.87 an ounce at 11:03 GMT, equivalent to 7:03 a.m. EDT. The readings were close but were recorded at different times.
Primary reference: Kitco spot bid, reported October 20, 2026, at 7:57 a.m. EDT. The gram and 10-gram figures are calculated equivalents.
| Measurement | Price in USD | Daily change |
|---|---|---|
| 1 troy ounce | $4,123.60 | −$16.30 |
| 1 gram | $132.58 | — |
| 10 grams | $1,325.77 | — |
The conversions use 1 troy ounce = 31.1034768 grams. These values represent the mathematical equivalent of the reported spot bid; they are not guaranteed retail prices for jewelry, coins or bars. Physical gold can carry dealer premiums, manufacturing costs and other charges. Kitco itself distinguishes the estimated metal value from retail prices.
A directly verifiable historical series from Alpha Vantage was not obtained for this report. Consequently, the article does not include weekly, monthly or yearly comparisons, or a 52-week high and low. Including numbers from an unverified series would create an avoidable attribution and accuracy problem.
Alpha Vantage’s official documentation confirms that it offers a spot-price endpoint and daily, weekly and monthly historical data for gold. However, the existence of those endpoints does not establish that the data were queried successfully for this article. tage
Reuters reported that gold edged lower as rising oil prices stoked inflation concerns. Brent crude reached $111.75 a barrel, its highest level in five months, amid heightened geopolitical risks involving attacks on Saudi targets and vessels in the Gulf.
Higher energy prices can add to inflationary pressure and complicate the outlook for interest rates. Because gold does not pay interest, expectations of tighter monetary policy can make interest-bearing assets more attractive by comparison. Reuters quoted Ricardo Evangelista, chief executive of ActivTrades, discussing inflationary pressure from energy prices and the prospect of further Federal Reserve tightening. This is an attributed market interpretation, not proof that oil prices alone caused the decline.
The Federal Open Market Committee’s next scheduled meeting was October 27–28, according to the Federal Reserve’s calendar. Investors were also watching the upcoming U.S. Personal Consumption Expenditures price index, or PCE, for further clues about inflation and the interest-rate outlook.
Reuters reported that traders saw a 92% chance of a December rate hike according to CME FedWatch. That figure is a time-specific market expectation reported by Reuters, not an official Federal Reserve forecast or decision. Because the exact probability can change, this article does not use it as a current live estimate.
Spot gold is a market reference for gold for immediate delivery. Futures are exchange-traded contracts tied to a specified future delivery period, so their prices can differ from spot quotations.
Reuters reported U.S. gold futures for December delivery at $4,139.90 an ounce at 11:03 GMT, down 0.5%. That futures quote should not be substituted for Kitco’s $4,123.60 spot bid, which was recorded at a later time.
Kitco reported a spot bid of $4,123.60 per troy ounce at 7:57 a.m. EDT on October 20, 2026. This is a timestamped reading, not a guaranteed price for the entire day.
Using Kitco’s reported ounce price, one gram was worth approximately $132.58. This is a calculated spot-price equivalent, not a retail quote for a specific gold item.
Reuters attributed part of the decline to rising oil prices and concerns about inflation and future monetary policy. The available reporting does not establish that oil prices were the sole cause.
Spot gold refers to the market price for immediate delivery. Gold futures are exchange-traded contracts for a specified future period and can have a different price.
XAU/USD is a market quotation for gold against the U.S. dollar, commonly expressed in dollars per troy ounce. When comparing quotes, check the provider, timestamp and instrument.
Methodology: Kitco’s reported $4,123.60 spot bid at 7:57 a.m. EDT is the primary quote. Gram and 10-gram equivalents were calculated using 31.1034768 grams per troy ounce. Reuters’ earlier spot quote provides a separate reference, while its December futures price is treated as a different instrument. Alpha Vantage’s documentation was reviewed, but its API was not queried directly for this report.
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