Gold gains as oil, dollar retreat; investors brace for US inflation test
Spot gold climbed 0.4 percent to $4,186.91 per ounce by 08:58 GMT on Tuesday, driven downward by retreating crude oil prices and a weaker US dollar. December US gold futures similarly advanced 0.5 percent. Traders are awaiting key US consumer and producer price inflation reports to gauge the trajectory of Federal Reserve monetary policy, while ongoing Middle East conflicts continue to stoke broader inflation concerns.
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- β Spot gold rose 0.4% to $4,186.91 per ounce by 08:58 GMT on Tuesday.
- β US gold futures for December delivery rose 0.5%.
- β Expectations of a Federal Reserve rate hike this month remained subdued ahead of key US inflation data due this week.
What changed
Gold prices moved higher as both the US dollar and crude oil prices retreated ahead of critical US inflation releases.
Live updates
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Gold Rises as Oil and US Dollar Retreat Ahead of Inflation Data
Spot gold climbed 0.4 percent to $4,186.91 per ounce by 08:58 GMT on Tuesday, driven downward by retreating crude oil prices and a weaker US dollar. December US gold futures similarly advanced 0.5 percent. Traders are awaiting key US consumer and producer price inflation reports to gauge the trajectory of Federal Reserve monetary policy, while ongoing Middle East conflicts continue to stoke broader inflation concerns.
Why it matters
Precious metals markets remain sensitive to upcoming US inflation metrics that will influence the Federal Reserve outlook and interest rate decisions. Concurrently, regional conflicts in the Middle East have heightened inflation fears and contributed to volatility in energy markets. Investors are balancing these macroeconomic headwinds against persistent US dollar strength and elevated global bond yields.
What is confirmed
- Spot gold rose 0.4% to $4,186.91 per ounce by 08:58 GMT on Tuesday.
- US gold futures for December delivery rose 0.5%.
- Expectations of a Federal Reserve rate hike this month remained subdued ahead of key US inflation data due this week.
Still unconfirmed
- Gold price hits $4,206, its best level since 2 October, as oil slips on an unconfirmed ceasefire.
What to watch next
- Release of US consumer price index data on Wednesday
- Release of US producer price index data on Thursday
confidence 100%Sources used for this update (17)
- economictimes.indiatimes.com β Business News Live, Share Market News - Read Latest Finance News, IPO ...
- discoveryalert.com β Gold Price Climbs to $4,206 as Oil Slides and CPI Test Looms
- Reuters β Gold gains as oil, dollar retreat; investors brace for US inflation test
- FOREX.com β Gold Hints at Quiet Accumulation Despite Persistent US Dollar Strength
- KITCO β Gold defies multi-decade high bond yields, but Q4 headwinds remain β Invesco
- CNBC β The price of gold today, Oct. 12, 2026 β and the best places to buy
- Bloomberg.com β Gold Holds Drop as Middle East Fighting Stokes Inflation Fears
- www.marketscreener.com β Global Stocks Fall on Higher Oil Prices, AI Pullback | MarketScreener
- section.blog.naver.com β 2026.10.09(κΈ) μ€ν 12μ μ£Όμ Headline Summary β μΈκ³ λ΄μ€λ‘ λ°°μ°λ μμ΄ νν
- www.thehindubusinessline.com β Stock Market Highlights, Oct 15: Sensex jumps over 1,500 points, Nifty nears 23,000; rupee extends gains - The HinduBusinessLine
- www.swissinfo.ch β US Stocks Waver on Slowest Trading Day in 2026: Markets Wrap - SWI swissinfo.ch
- theedgemalaysia.com β Gold gains as oil, dollar retreat; investors brace for US ...
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