Gold Prices Slip as Strong US Data Fuels Fed Tightening Bets

2026-09-24 13:01 By Joana Ferreira 1 min. read

Gold prices edged lower to around $4,280 an ounce on Thursday, moving closer to their lowest level since early August, weighed by expectations that the US Federal Reserve could tighten monetary policy further.

Mounting US inflation pressures and signs of a resilient economy appear to be reinforcing expectations of another rate hike, with traders increasing bets on a second consecutive policy tightening in late October.

The pressure on gold intensified as the dollar climbed to its strongest level in two months, following data showing that US business activity expanded at its fastest pace in more than five years.

Meanwhile, weekly jobless claims fell to a near 60-year low, further highlighting the resilience of the US labor market and strengthening the case for tighter monetary policy.

Elsewhere, oil prices continued to rise as diplomatic talks between the US and Iran failed to show any concrete signs of progress, adding to concerns over potential supply disruptions.



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Gold Prices Slip as Strong US Data Fuels Fed Tightening Bets
Gold prices edged lower to around $4,280 an ounce on Thursday, moving closer to their lowest level since early August, weighed by expectations that the US Federal Reserve could tighten monetary policy further. Mounting US inflation pressures and signs of a resilient economy appear to be reinforcing expectations of another rate hike, with traders increasing bets on a second consecutive policy tightening in late October. The pressure on gold intensified as the dollar climbed to its strongest level in two months, following data showing that US business activity expanded at its fastest pace in more than five years. Meanwhile, weekly jobless claims fell to a near 60-year low, further highlighting the resilience of the US labor market and strengthening the case for tighter monetary policy. Elsewhere, oil prices continued to rise as diplomatic talks between the US and Iran failed to show any concrete signs of progress, adding to concerns over potential supply disruptions.
2026-09-24
Gold Holds Decline on Stronger Dollar, Yields
Gold held below $4,300 an ounce on Thursday after falling sharply in the previous session, pressured by a stronger dollar and surging Treasury yields. Those moves came as stronger-than-expected US private-sector data heightened inflation concerns and strengthened expectations for further Federal Reserve rate hikes. Several Fed officials have also reiterated support for last week’s rate increase while warning about persistent inflation risks. Markets are now pricing in around a 70% chance of another Fed rate hike in October, up from 55% a day earlier. At the same time, oil prices rebounded as Iranian President Masoud Pezeshkian maintained a firm stance, saying Tehran would not allow freedom of navigation through the Strait of Hormuz while sanctions and a US blockade remain in place. Higher oil prices add to inflationary pressures, reinforcing expectations for a more hawkish interest-rate outlook.
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