Business · Markets · 1 hr ago
Gold falls as stronger dollar and higher oil prices weigh on market
Gold prices fell on Monday after reaching their highest level in a week earlier in the session.
The price of spot gold dropped 0.6% to $4,169.10 an ounce.
A stronger US dollar and rising oil prices put pressure on the metal, while tensions in the Middle East kept investors cautious.
Investors are waiting for US inflation figures and comments from Federal Reserve Chair Kevin Warsh to assess where interest rates may go.
The US consumer price index is due Wednesday, with producer prices and retail sales data due Thursday.
Markets largely expect the Fed to leave rates unchanged later this month, but higher rates can make investments that pay interest more attractive than gold.
Gold prices fell 0.6% as a stronger US dollar and higher oil prices weighed on the market.
Spot gold was at $4,169.10 an ounce after reaching its highest level since October 2 during the session.
US gold futures for December delivery also fell 0.6%, closing at $4,190.60 an ounce.
Investors awaited US inflation data for clues about the Federal Reserve’s interest-rate path.
- Who
- Gold market investors and traders.
- What
- Spot gold fell 0.6% to $4,169.10 an ounce, while US gold futures for December delivery fell 0.6%.
- When
- The report was published on October 13, 2026; gold prices fell after reaching a one-week high on Monday.
- Where
- Not stated.
- Why
- A stronger dollar and higher oil prices weighed on gold as investors awaited US inflation data and indications of Federal Reserve policy.
This story does not have two clearly opposing sides.
Gold reached its highest level since October 2 during the session, while oil prices rose to almost two-week highs.
The US Consumer Price Index report is due to be published.
The US Producer Price Index and retail sales data are due to be published.
- Spot gold
- Down 0.6% to $4,169.10 per ounce
- US gold futures
- December delivery closed down 0.6% at $4,190.60 per ounce
- Dollar
- Near a one-and-a-half-year high, according to analyst Jim Wyckoff
- US inflation data
- Consumer Price Index due Wednesday; Producer Price Index and retail sales due Thursday
- Oil prices
- Rose Monday to almost two-week highs
What people are saying
We are seeing some selling pressure in gold because the dollar is near its one-and-a-half-year high
I don't think the reports will show any sign that inflation is going to decline, and they will probably tend to be bearish for the metals market
Sources
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