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Gold
Climbs as Oil and Dollar Retreat
Singapore,
12 Oct 2026 (ONA) — Gold prices rose today, buoyed by a weaker dollar and lower
oil prices, as investors await the release of key US inflation data this week
for signals on the Federal Reserve’s next monetary policy move.
Spot
gold climbed 0.3 percent to $4,206.01 per ounce, having earlier today recorded
its highest level since 2 October, while US gold futures for December delivery
rose 0.3 percent to $4,230.40.
Markets
now await the US Consumer Price Index (CPI) report on Wednesday, followed by
the Producer Price Index (PPI) and retail sales data on Thursday.
According
to the CME’s FedWatch tool, traders see a 17 percent probability of a rate hike
in October, and an 86 percent probability of an increase by next December.
Among
other precious metals, spot silver rose 0.5 percent to $61.12 per ounce,
platinum gained one percent to $1,704.70, and palladium climbed 1.2 percent to
$1,161.81.
—
Ends/Khalid
