09:59 - 28.09.2026

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September 28, Fineko/abc.az. Gold prices dropped by 2.1% to $4,198.10 per ounce on Monday as surging crude oil prices stoked inflation fears and strengthened expectations of further US Federal Reserve interest rate hikes.

During the trading session, spot gold touched a low of $4,191.40.

Market participants currently price in a 66% probability of a Fed rate hike in October, according to CME’s FedWatch Tool. Other precious metals also declined, with spot silver falling 2.6% to $62.64 per ounce, platinum sliding to $1,741.45, and palladium dropping to $1,239.95.