Business · Energy & Commodities · 1 hr ago
Gold rises as oil falls ahead of US inflation data
Gold prices rose 0.4% to $4,185.69 an ounce in trading on Tuesday, while US gold futures also gained.
Oil prices fell, after tensions in the Middle East had raised concerns about inflation and expectations of tighter monetary policy.
Investors are watching US inflation figures for clues about what the Federal Reserve may do with interest rates.
The consumer price index is due Wednesday, followed by the producer price index on Thursday.
Higher interest rates can make gold less attractive because it does not pay interest, even though investors may use it to guard against inflation.
A Cleveland Fed leader said the central bank should move relatively quickly toward tighter policy to control inflation.
The inflation data could influence gold prices and market expectations for rate increases in the coming months.
Gold prices rose on Tuesday as oil prices fell and markets awaited US inflation data due this week.
Spot gold gained 0.4% to $4,185.69 an ounce by 03:56 GMT.
US gold futures for December delivery rose 0.5% to $4,209.90.
Markets are watching the inflation figures for clues about the Federal Reserve’s interest-rate path.
A higher-than-expected inflation reading could raise expectations of a rate increase and put pressure on gold.
- Who
- Gold prices rose, while oil prices fell.
- What
- Spot gold gained 0.4%, and US gold futures for December delivery rose 0.5%.
- When
- Tuesday, October 13, 2026. US consumer price data was due Wednesday and producer price data Thursday.
- Where
- Not stated
- Why
- Markets awaited US inflation data for clues about the Federal Reserve’s interest-rate path.
This story does not have two clearly opposing sides.
Gold reached its highest level in a week during trading.
Spot gold rose 0.4% to $4,185.69 an ounce by 03:56 GMT.
The US consumer price index was scheduled for release.
The US producer price index was scheduled for release.
- Spot gold
- $4,185.69 an ounce, up 0.4% by 03:56 GMT
- US gold futures
- December delivery rose 0.5% to $4,209.90
- Consumer price index
- Scheduled for Wednesday
- Producer price index
- Scheduled for Thursday
- Rate-rise probability
- 19% for October and 85% for December, according to CME Group’s FedWatch tool
What people are saying
Consumer price data will be decisive for gold in the short term.
relatively quickly
Sources
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