# Gold Rises 2.1% as Brent and U.S. Crude Settle More Than 7% Lower By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/47176 Published: 2026-11-03T02:34:50.000Z Updated: 2026-11-03T02:34:50.000Z Section: Investing > Spot gold reached $3,954.41 an ounce Monday afternoon. Two Fed officials favored a rate increase at the October meeting, while Dallas Fed President Lorie Logan called for at least two more. Gold rose 2.1% Monday as oil prices settled more than 7% lower, while Federal Reserve officials’ recent calls for higher rates kept policy in focus for markets. Spot gold reached $3,954.41 an ounce at 1:49 p.m. ET (18:49 UTC). December U.S. gold futures settled 1.8% higher at $3,969.60 an ounce. Gold’s advance followed [its October losses](). Brent crude settled at $104.77 a barrel, down $8.66, or 7.63%. U.S. West Texas Intermediate crude settled at $96.46 a barrel, down $7.66, or 7.36%. The drop in oil eased some inflation concerns. “We're just getting a bounce after the selloff, along with oil prices coming off to start the week,” said Kyle Rodda, senior financial market analyst at Capital.com. The Federal Open Market Committee (FOMC) voted 10-2 on Oct. 28 to keep its target federal funds range at 3.75% to 4%. Lisa Cook and Beth Hammack dissented, favoring a 25-basis-point increase. Dallas Fed President Lorie Logan voted to hold rates at that meeting. In remarks on Oct. 30, she said she still supported at least two additional 25-basis-point increases. ## Links in this article - [its October losses](https://www.tokenpost.com/news/investing/46698)