Gold Gets a Breather as Fed Rate Hike Odds Decline. Forecast as of 02.10.2026

Investors have settled on the timing of Fed rate hikes, while employment data close to forecasts may help XAU/USD, even though the environment remains unfavorable for gold. Let’s discuss this topic and outline a trading plan.Major Takeaways In September, gold posted its steepest decline since June. Lower odds of Fed rate hikes are helping XAU/USD. Rising ETF demand is supporting the precious metal. A breakout above $4,200 per ounce would be a reason to buy gold.Weekly Fundamental Fore