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Gold
Prices Climb as Rate Hike Expectations Fade
Singapore,
5 Oct 2026 (ONA) — Gold prices rose today after recent weak economic data
sharply reduced expectations that the Federal Reserve will raise interest rates
in October, enhancing the appeal of the non-yielding asset.
Spot
gold rose 0.4 percent to $4,158.17 per ounce, while US gold futures for
December delivery climbed 0.6 percent to $4,186.40.
Data
released last Friday showed that US job growth slowed more than expected in
September, while non-farm payroll figures for the previous two months were
sharply revised downward.
The
US central bank raised its benchmark overnight interest rate last month by 25
basis points to a range between 3.75 percent and four percent, the first rate
increase in three years.
Among
other precious metals, spot silver rose 1.7 percent to $61.40 per ounce,
platinum gained 0.6 percent to $1,708.48, and palladium climbed 0.6 percent to
$1,175.04.
—
Ends/Khalid
