Business · Markets · 2 hrs ago
Gold rises above $4,200 as US data loom
Gold rose to about $4,209 an ounce in Asian trading on Monday, October 12, up around 0.4%.
Lower oil prices helped support gold by easing concerns about inflation, but a strong US dollar and high bond yields limited the gains.
Gold does not pay interest, so high yields can make it less attractive to investors.
US markets were closed for a federal holiday on Monday, and several important economic figures are due from Wednesday onward.
These include US consumer inflation, producer prices, retail sales and industrial production.
The figures could affect expectations for interest rates ahead of the Federal Reserve’s October 27–28 meeting, which may in turn move gold prices.
In Turkey, the price of gram gold also depends on the dollar-lira exchange rate, not only on the global gold price.
Gold rose about 0.4% to $4,209 an ounce in Asian trading on Monday, October 12.
The metal had ended the previous week at around $4,194 an ounce.
Falling oil prices supported gold, while a strong US dollar and high bond yields limited its gains.
Investors are watching US economic data due from Wednesday through Friday for signals about inflation, growth and interest rates.
The data could influence expectations ahead of the Federal Reserve’s October 27-28 meeting.
- Who
- Gold investors and traders are watching the market.
- What
- Gold rose above $4,200 an ounce as markets awaited US economic data.
- When
- Monday, October 12, 2026, with further US data due later in the week.
- Where
- Gold rose in Asian trading; the US data will be released in the United States.
- Why
- Lower oil prices supported gold, while the dollar and bond yields weighed on it. Upcoming data may shape expectations for interest rates.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Gold rose about 0.4% to $4,209 an ounce in Asian trading.
US consumer inflation figures and the Federal Reserve’s Beige Book are scheduled for release.
US producer prices and retail sales are scheduled for release.
US import and export prices and industrial production are scheduled for release.
The Federal Reserve’s next meeting is scheduled.
- Gold price
- $4,209 an ounce
- Daily rise
- About 0.4%
- Previous week’s close
- Around $4,194 an ounce
- Brent crude
- Around $103.50 a barrel
- US dollar index
- Around 102.14
- Federal Reserve meeting
- October 27-28
Sources
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