Gold Set to End Week Little Changed

2026-10-09 00:58 By Jam Kaimo Samonte 1 min. read

Gold steadied near $4,150 an ounce on Friday and was on track to finish the week little changed, as investors assessed developments in the Middle East and the outlook for Federal Reserve monetary policy.

Oil prices eased after President Donald Trump said the US was engaged in “productive discussions” with Iran and would refrain from attacking the country before the midterm elections.

His comments came even as Iran intensified attacks on tankers passing through the Strait of Hormuz this week.

A hurricane also disrupted US offshore oil production in the Gulf of Mexico.

Meanwhile, markets are currently pricing in an approximately 82% probability that the Fed will keep interest rates unchanged this month, while the odds of a rate hike in December stand at around 81%.

On Thursday, St. Louis Fed President Alberto Musalem indicated that rates may need to rise over the next six to nine months to bring inflation back toward the central bank’s 2% target.



News Stream
Gold Set to End Week Little Changed
Gold steadied near $4,150 an ounce on Friday and was on track to finish the week little changed, as investors assessed developments in the Middle East and the outlook for Federal Reserve monetary policy. Oil prices eased after President Donald Trump said the US was engaged in “productive discussions” with Iran and would refrain from attacking the country before the midterm elections. His comments came even as Iran intensified attacks on tankers passing through the Strait of Hormuz this week. A hurricane also disrupted US offshore oil production in the Gulf of Mexico. Meanwhile, markets are currently pricing in an approximately 82% probability that the Fed will keep interest rates unchanged this month, while the odds of a rate hike in December stand at around 81%. On Thursday, St. Louis Fed President Alberto Musalem indicated that rates may need to rise over the next six to nine months to bring inflation back toward the central bank’s 2% target.
2026-10-09
Gold Holds Near Two-Month Low
Gold prices hovered around $4,120 an ounce on Thursday, remaining close to a two-month low reached on Wednesday, as investors assessed the Federal Reserve’s September meeting minutes for clues on the interest-rate outlook. The dollar held near an 18-month high, while US Treasury yields remained close to their highest level in more than two decades after the minutes showed all 19 policymakers backed September’s rate hike, with most seeing another increase as appropriate before year-end. Markets now see a near 17% chance of a hike in October and an over 85% probability of a December increase, according to the CME FedWatch Tool. Higher interest rates reduce the appeal of non-yielding gold. Meanwhile, geopolitical tensions continued to support some demand for safe-haven assets. The number of vessels transiting the Strait of Hormuz fell to its lowest level in more than two months as fighting in the region escalated, according to shipping data.
2026-10-08
Gold Pressured Near 2-Month Low
Gold traded near $4,100 an ounce on Thursday, remaining close to its lowest level since early August as the latest FOMC minutes pointed to the possibility of another US rate hike this year, while elevated oil prices continued to fuel inflation concerns. Minutes from the Federal Reserve’s September meeting showed that all 19 policymakers supported the September rate increase, with most indicating that another hike would likely be appropriate before year-end. Markets broadly expect the Fed to leave rates unchanged this month, while the probability of a December hike currently stands at around 78%. Meanwhile, oil prices advanced following reports that the Trump administration had asked the Pentagon to prepare strike options against Iran that could be carried out before the midterm elections. Risks to shipping through the Strait of Hormuz also remain elevated, even as oil flows from the Middle East are estimated to have recovered to prewar levels.
2026-10-08