Gold Advances on Softer Oil Prices

2026-11-09 01:59 By Jam Kaimo Samonte 1 min. read

Gold climbed above $4,100 per ounce on Monday, extending last week’s gains as weaker oil prices eased inflationary pressures, although expectations of a more hawkish Federal Reserve capped further upside.

Oil prices remained under pressure after President Donald Trump said it was “highly unlikely” he would authorize additional strikes on Iran if negotiations over its nuclear program and the reopening of the Strait of Hormuz make significant progress.

Meanwhile, US data released on Friday showed that job growth accelerated in October, while the unemployment rate declined to 4.1%, highlighting the resilience of the labor market and strengthening expectations of a potential Fed rate hike in December.

Markets are now pricing in an approximately 81% probability of a quarter-point rate increase before year-end, up from 71% ahead of the employment report.

Investors are now turning their attention to key US inflation data due this week for further clues on the Fed’s monetary policy direction.



News Stream
Gold Advances on Softer Oil Prices
Gold climbed above $4,100 per ounce on Monday, extending last week’s gains as weaker oil prices eased inflationary pressures, although expectations of a more hawkish Federal Reserve capped further upside. Oil prices remained under pressure after President Donald Trump said it was “highly unlikely” he would authorize additional strikes on Iran if negotiations over its nuclear program and the reopening of the Strait of Hormuz make significant progress. Meanwhile, US data released on Friday showed that job growth accelerated in October, while the unemployment rate declined to 4.1%, highlighting the resilience of the labor market and strengthening expectations of a potential Fed rate hike in December. Markets are now pricing in an approximately 81% probability of a quarter-point rate increase before year-end, up from 71% ahead of the employment report. Investors are now turning their attention to key US inflation data due this week for further clues on the Fed’s monetary policy direction.
2026-11-09
Gold Retreats on Strong US Jobs Data
Gold prices fell toward $4,050 an ounce on Friday as the US dollar strengthened following a stronger-than-expected nonfarm payrolls report, reinforcing expectations that the Federal Reserve could raise interest rates at its policy meeting next month. The US economy added 165,000 jobs in October, well above market expectations of 65,000, while the unemployment rate unexpectedly declined to 4.1%. Employment figures for the previous two months were also revised upward by a combined 84,000. Adding to the hawkish outlook, average hourly earnings rose by 0.4%, exceeding forecasts of 0.3%, while a renewed increase in crude oil prices further fueled inflation concerns. Despite Friday’s pullback, gold remained up more than 4% for the week, supported by safe-haven demand following a sweeping Democratic victory in the US midterm elections, which prompted investors to rotate out of AI stocks and seek defensive assets.
2026-11-06
Gold Heads for Strong Weekly Gain
Gold slipped below $4,050 an ounce on Friday but was still on track to gain more than 4% for the week following a sweeping Democratic victory in the US midterm elections. Markets expect Democrats to push for an end to the Iran conflict, which could drive oil prices lower, ease inflationary pressures and reduce the likelihood of more aggressive interest rate hikes. Investors also anticipate that a divided government could constrain President Donald Trump’s fiscal agenda, limiting additional government spending and borrowing while further easing inflation concerns. Meanwhile, the global equity selloff intensified amid fears that Democrats could impose stricter regulations on the artificial intelligence industry and curb data center expansion, prompting some liquidity-driven selling in precious metals. However, these pressures were offset by stronger demand for safe-haven bonds, which pushed yields lower and supported demand for non-yielding assets such as gold.
2026-11-06