Gold price holds above $4,000 into the Fed hold as silver's industrial beta lags

The Federal Reserve's expected hold on October 28 is the anchor the entire precious-metals complex is trading around, and after a week of tests the two metals are telling different stories. Spot gold is consolidating just above $4,000, Dec futures at $4,047.00 (down 0.68% in the session's quote), flat-to-softer into a decision the market prices as a near-certain hold, roughly 90% via CME-style fed-funds futures before what CNBC's FedWatch reads as about an 84% chance of a December hike. Silver is the laggard: Dec futures at $53.93, down 1.07%, spot near $54.06 to $54.20, as industrial beta strips the premium out of the metal while the dollar firms into the Fed, with the dollar index around 1…