October 29 Gold Strategy Watch: After the Fed Decision, First Recalibrate New Quotes and Ranges

Author: Thomas | Strategy Watch | October 29, 2026

The results of the Fed's October meeting have been released, but the direction of gold after the open should not be determined solely by the words "hold rates." Before 09:30 Beijing time on October 29, the Kitco spot gold page I can verify still shows the quote snapshot from 20:35 New York time on October 28, which is 08:35 Beijing time today. Without a reliable synchronized quote at 09:30 and a complete Asian morning range, this article does not pass off yesterday's numbers as the current price, nor does it give an immediate entry point. Below, only the verified historical range is used to build a watch framework, to be recalibrated after the platform updates.

Quote basis and time difference

The Kitco page shows that at 20:35 New York time on October 28, spot gold bid was 4039.80 USD/oz and ask was 4041.80 USD/oz; the page lists the day's low at 4024.20 and high at 4083.00 USD/oz. New York was on daylight saving time at that moment, so this corresponds to 08:35 Beijing time on October 29. This is the Kitco spot quote source, not any broker's tradable XAUUSD price; differences may also arise between dealers due to spreads, quote sources, and server daily line cut methods.

The page has not provided a verifiable update at the same moment since then, so whether this morning has broken out, pulled back, or formed new highs or lows cannot be confirmed from it for now. The 4024.20–4083.00 mentioned below is only the historical range from the Kitco page on October 28 and cannot be directly treated as verified support and resistance for October 29.

Upper watch zone: first confirm whether it truly holds

Yesterday's page high of 4083.00 can serve as a historical upper reference, but a single touch does not prove a sell wall exists there. If today's new same-source quote with a stated time approaches that level again, first see whether the price only briefly crosses it amid wide post-news spreads, or remains above it after the close of the selected timeframe. The breakout scenario must be redefined using the actually updated Asian session high and trading costs, and yesterday's high should not be copied as a fixed buy trigger.

The invalidation condition for the upside scenario is a brief move above the historical upper edge followed by a return into the updated range, with subsequent failure to hold above. Even if invalidated, it does not automatically constitute a short signal; USD, Treasury yields, and upcoming data still need to be checked. Yesterday's rate decision has already occurred, while tonight's US GDP and personal income and spending data have not yet been released, and the market reactions in the two phases must not be conflated.

Lower watch zone: distinguish a retest from continued weakness

Yesterday's page low of 4024.20 is a historical lower reference. If today's price pulls back toward that level, first confirm the current platform's actual bid/ask, today's Asian morning low, and whether intraday volatility has changed. If the price dips and then returns to the updated range, observe whether it was only short-term post-news fluctuation; if it breaks below and remains below on the selected timeframe, the assumption of "returning to the range" should be abandoned. Historical lows have no obligation to support the price again.

The invalidation condition for the pullback scenario is regaining and holding above the updated range, or new quotes showing that the morning structure is clearly different from yesterday's range. If the actual stop distance exceeds the account's risk budget due to spreads, slippage, or expanded volatility, position size should be reduced or the trade abandoned even if the chart appears to match expectations. No uniform stop amount or profit target is given here.

Check two time points first today

First, obtain a current quote that is different from the 08:35 snapshot and clearly states the time and time zone, and redraw today's high and low range; numbers from different platforms must not be stitched together to create a "breakout." Second, the US Bureau of Economic Analysis has scheduled the preliminary Q3 GDP and September personal income and spending data for release at 08:30 US Eastern time on October 29, approximately 20:30 Beijing time tonight. Volatility and spreads should be reassessed before and after the data release, and the data outcome or gold price direction must not be presumed. This article is a conditional watch framework, not a definitive call.