- October 1, 2026
- Posted by: Tresmark
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Gold prices edged higher on Thursday after softer-than-expected US inflation data reduced expectations of a Federal Reserve rate hike in October.
Spot gold gained 0.5% to $4,175.19 per ounce by 0417 GMT, while US gold futures for December delivery rose 0.4% to $4,204.80. The move came after gold fell more than 6% in September.
US inflation increased less than expected in August, while inflation figures for the previous month were also revised lower. Following the data, markets priced in a 38% chance of an October rate hike, down from 45% previously.
However, traders still see a 97% probability of a rate increase in December. Higher interest rates typically weigh on gold because the precious metal does not generate interest income.
Markets are now focused on the US nonfarm payrolls report due Friday for further signals on the Federal Reserve’s policy outlook.
Gold’s gains were limited by a US dollar that remained near a two-month high, making dollar-priced bullion more expensive for holders of other currencies.
Elsewhere, spot silver rose 1.2% to $61.11 an ounce, platinum gained 0.7% to $1,717.35, while palladium edged up 0.3% to $1,207.12.
