Business · Markets · 1 hr ago
Gold Rebounds From a One-Year Low as Oil Prices Fall
Gold prices rose on Monday, recovering some ground after a sharp fall on Friday.
Spot gold was reported at about $3,901 to $3,915 an ounce, after reaching its lowest level in roughly a year.
Lower oil prices eased some inflation concerns, while buyers took advantage of gold's lower price.
A sell-off in technology shares had also pushed some investors to sell gold to cover losses elsewhere.
The Federal Reserve's interest-rate outlook remains uncertain: some officials have called for further increases, while the bank kept short-term borrowing costs unchanged at its recent meeting.
Higher rates can make gold less attractive because it does not pay interest.
Investors are watching oil prices and Fed signals for clues about inflation and the direction of rates, while renewed conflict involving Iran could add pressure to markets.
Gold rebounded on Monday after falling to a roughly one-year low in the previous session.
Spot gold rose, with reports putting it between $3,900.90 and nearly $3,915 an ounce.
Lower oil prices eased some concern about inflation, while buyers were attracted by gold’s price decline.
Investors were also assessing Federal Reserve officials’ comments for clues about the path of interest rates.
Technical selling and liquidity concerns continued to weigh on gold, analysts said.
- Who
- Gold investors and traders, including buyers seeking to purchase after the price decline.
- What
- Gold prices rebounded after reaching a roughly one-year low.
- When
- Monday, November 2, 2026, after a sharp fall on Friday.
- Where
- International markets; the reports cite spot gold prices per ounce.
- Why
- Lower oil prices eased inflation concerns, and some buyers were drawn to gold’s lower price.
This story does not have two clearly opposing sides.
Gold fell sharply, reaching its lowest level in about a year and dropping below $4,000 an ounce.
Gold rose as oil prices fell and some investors bought after the price decline.
- Spot gold, Asharq Al-Awsat
- $3,900.90 an ounce, up 0.7% by 04:40 GMT on Monday
- Spot gold, Al Eqtisadiah
- Nearly $3,915 an ounce, up 1.1%
- Gold’s Friday decline, Asharq Al-Awsat
- 3.5%
- Oil prices
- Fell by more than 3%
- Silver, Asharq Al-Awsat
- $49.97 an ounce, up 1.8%
4 sources
What people are saying
The current rise represents a rebound after the sell-off, alongside a decline in oil prices at the start of the week.
Gold was finding some immediate support from investors who see the current price as cheap.
Gold faces a difficult near-term environment, with technical selling pressure and liquidity concerns outweighing its longer-term investment appeal.