Business · Markets · 16 hrs ago
Gold edges higher as lower oil prices ease inflation concerns
Gold prices rose slightly on Monday as lower oil prices eased concerns about inflation.
Spot gold was up 0.2% at $4,073.59 an ounce, while US gold futures also gained 0.2%.
Falling oil prices followed Donald Trump's comments that he was unlikely to order more attacks on Iran while talks continued, though shipping disruptions were reported near the Strait of Hormuz.
Strong US jobs data strengthened expectations of higher interest rates, after job growth accelerated in October and unemployment fell to 4.1%.
Higher rates can make gold less attractive because it does not pay interest, limiting its gains.
Traders see a 79% chance of a Fed rate rise in December, up from 71% before the jobs data.
Spot gold edged 0.2% higher on Monday as softer oil prices eased inflation concerns.
Gold was at $4,073.59 per ounce by 0016 GMT, while US December gold futures rose 0.2% to $4,082.30.
Gains were limited by expectations that the Federal Reserve will keep interest rates higher for longer after strong US payrolls data.
Traders saw a 79% chance of a Fed rate increase in December, up from 71% before the jobs report.
Oil prices fell after US President Donald Trump said he was highly unlikely to order more attacks on Iran while talks continued.
- Who
- Gold markets and traders. The Federal Reserve’s expected rate decisions also influenced prices.
- What
- Gold edged higher as softer oil eased inflation concerns, but expectations of higher US interest rates capped gains.
- When
- Monday, with spot prices reported at 0016 GMT. The article was published on November 9, 2026.
- Where
- The report gives global commodity prices and US market data; it does not state a specific trading location.
- Why
- Lower oil prices eased inflation concerns, while strong US payrolls reinforced expectations of higher interest rates, reducing gold’s appeal.
This story does not have two clearly opposing sides.
Bullion logged a weekly gain of roughly 5%.
Donald Trump said he was highly unlikely to order more attacks on Iran while talks continued, and oil prices fell following his comments.
Spot gold was up 0.2% at $4,073.59 per ounce.
- Spot gold
- $4,073.59 per ounce, up 0.2% at 0016 GMT
- US December gold futures
- $4,082.30 per ounce, up 0.2%
- Expected December Fed rate increase
- Traders saw a 79% chance, up from 71% before the payrolls data
- US unemployment rate
- 4.1% in October
- Bullion weekly gain
- Roughly 5% on Friday
What people are saying
he was highly unlikely to order more attacks on Iran as long as talks to end the conflict continued