Gold Remains Under Pressure

2026-09-23 03:17 By Jam Kaimo Samonte 1 min. read

Gold fell below $4,350 an ounce on Wednesday, remaining under pressure as hawkish signals from Federal Reserve officials outweighed the impact of declining oil prices on the inflation and interest rate outlook.

On Tuesday, Richmond Fed's Tom Barkin warned that inflationary shocks could take time to subside, while Boston Fed's Susan Collins said she supported last week’s rate hike amid concerns that future inflation could remain above the 2% target.

Meanwhile, oil prices extended their decline for a sixth consecutive session after President Trump said US officials had a “very good” meeting with Iranian envoys, while Tehran said it could reopen the Strait of Hormuz within seven days if the US eases military pressure and lifts its blockade of Iranian ports.

Lower oil prices help ease concerns over higher inflation and additional rate hikes.

Elsewhere, China’s gold imports through August surpassed 1,000 tons, already exceeding the full-year total for 2025 amid strong investment demand.



News Stream
Gold Slides Below $4,000
Gold prices fell below $4,000 an ounce on Friday, hitting their lowest level since mid-July and putting the precious metal down almost 4% for the week, as rising oil prices strengthened expectations that US interest rates will remain higher for longer. Brent crude surged to a four-year high after Houthi attacks in Saudi Arabia heightened concerns over further energy supply disruptions. Meanwhile, recent US data showed consumer and producer inflation rising more than expected, largely driven by higher energy costs, reinforcing concerns over persistent inflationary pressures. Despite this, Federal Reserve officials are widely expected to leave interest rates unchanged at their October 27–28 meeting. Markets currently price in just a 10% chance of a rate hike next week, compared with odds of around 80% for December, according to CME’s FedWatch Tool. Investors now await US PCE inflation data due October 29 for further clues on progress towards the Fed’s 2% inflation target.
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