Business · Markets · 2 hrs ago
Gold rises as the dollar weakens and oil prices fall
Gold prices rose at the start of the week as the US dollar weakened and oil prices fell.
Spot gold gained 0.3% to $4,206.01 an ounce, while US gold futures also rose 0.3%.
Lower oil prices can ease concerns about inflation and interest rate increases, making gold more attractive to investors.
Oil fell amid expectations that Russia would increase supply and hopes for a halt to attacks on energy sites between Russia and Ukraine.
US President Donald Trump said he had announced an immediate energy ceasefire, but Ukrainian President Volodymyr Zelenskyy said details were still awaited.
Investors are looking to US consumer inflation data due Wednesday and producer inflation and retail sales figures due Thursday for clues about Federal Reserve policy.
Markets were pricing in a 17% chance of a rate increase in October and an 86% chance of one by December, while US consumer confidence had fallen further in early October as conflict in the Middle East raised living costs.
Gold rose as the US dollar weakened and oil prices fell.
Spot gold gained 0.3% to $4,206.01 an ounce, after reaching its highest level since October 2 earlier in the day.
Investors awaited US inflation data for clues about the Federal Reserve’s interest-rate policy.
Oil prices fell amid expectations that Russia would increase supply and hopes for a halt to attacks on energy facilities.
US President Donald Trump announced an energy ceasefire between Russia and Ukraine, while Ukrainian President Volodymyr Zelenskyy said details were still awaited.
- Who
- Gold investors and traders. KCM Trade chief market analyst Tim Waterer commented on the factors supporting gold.
- What
- Gold rose as the dollar weakened and oil prices fell.
- When
- The week beginning October 12, 2026.
- Where
- Not stated
- Why
- A weaker dollar and lower oil prices supported gold. The oil decline eased concerns about inflation and interest-rate increases.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
US President Donald Trump announced an energy ceasefire between Russia and Ukraine, which he said would take effect immediately.
Gold rose as the dollar weakened and oil prices fell.
The US consumer price index is due to be released.
The US producer price index and retail sales data are due to be released.
- Spot gold
- $4,206.01 an ounce, up 0.3%
- US gold futures for December
- $4,230.40 an ounce, up 0.3%
- Spot silver
- $61.12 an ounce, up 0.5%
- Spot platinum
- $1,704.70 an ounce, up 1%
- Spot palladium
- $1,161.81 an ounce, up 1.2%
- Fed rate expectations
- Markets priced a 17% chance of an October increase and an 86% chance of an increase by December.
Sources
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