10:03 - 29.09.2026

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September 29, Fineko/abc.az. Spot gold traded near a seven-week low at $4,124.57 per ounce, while US gold futures fell 0.3% to $4,156.70. The decline is driven by concerns that rising oil prices will fuel inflation, forcing the US Federal Reserve to keep interest rates higher for longer.

According to the CME FedWatch Tool, markets are pricing in a 70.3% probability of a Fed rate hike in October.

Higher yields continue to weigh on non-yielding precious metals, with silver dropping to $60.62 (-0.6%), platinum to $1,699.86 (-1%), and palladium to $1,209.08 (-0.5%).