Archive · 29 Sep 2026
Gold Rebounds From Seven-Week Low as West Asia Tensions Persist
Gold prices rose after falling to their lowest level in more than seven weeks.
Investors are watching events in West Asia because conflict can affect oil supplies and prices.
Higher oil prices can increase inflation, or the cost of goods and services.
High interest rates can make gold less attractive because gold does not pay interest.
Traders are also waiting for United States economic reports about jobs, consumer confidence and inflation.
These reports may help show what the Federal Reserve will do with interest rates.
Federal Reserve Governor Lisa Cook said inflation could stay high because of artificial-intelligence demand and higher oil prices.
Gold could face more pressure if the economy stays strong and interest rates remain high.
Spot gold rose 0.7% to $4,143.87 per ounce after reaching its lowest level since August 5.
United States gold futures gained 0.2% to $4,175.10, while silver, platinum and palladium declined.
Investors are monitoring West Asia developments and upcoming United States economic data for clues about Federal Reserve policy.
United States and Iranian officials separately spoke with mediators in a renewed effort to end seven months of war.
Markets priced a 70.3% probability of a Federal Reserve rate hike in October, up from 57.6% a week earlier.
- Who
- Gold investors, United States and Iranian officials, Federal Reserve Governor Lisa Cook, and market strategist Christopher Tahir.
- What
- Gold prices rose after reaching a more than seven-week low, while markets assessed geopolitical tensions and United States economic data.
- When
- Tuesday, September 29, 2026; the report was published on September 29, 2026.
- Where
- Global markets, with attention focused on West Asia and the United States.
- Why
- Investors are seeking clues about the Federal Reserve’s interest-rate path while assessing how West Asia tensions could affect oil prices, inflation and yields.
- Spot gold
- Rose 0.7% to $4,143.87 per ounce as of 0708 GMT.
- Recent low
- Gold reached its lowest level since August 5 on Monday.
- United States gold futures
- Gained 0.2% to $4,175.10.
- October rate-hike probability
- Markets priced a 70.3% probability, compared with 57.6% one week earlier.
- Upcoming data
- Consumer confidence, job openings, ADP employment, PCE and nonfarm payrolls reports are due this week.
- Other metals
- Silver fell 0.1%, platinum declined 1%, and palladium lost 0.4%.