Gold holds near seven-week low as rate expectations weigh on bullion

Published: Sep 29, 2026 14:48 (GMT+8)

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[SMM Gold Flash] Gold recovered modestly in early trading on 29 September but remained near the more than seven-week low reached a day earlier. Reuters reported spot gold at US$4,130.58 an ounce at 04:07 GMT, up 0.4%, while US gold futures were down 0.2% at US$4,162.20. The same market report put spot platinum 1.3% lower at US$1,697.71 and palladium 0.8% lower at US$1,205.27.

Investors were awaiting US confidence and jobs data as expectations of sustained high interest rates weighed on gold. Higher energy costs could keep inflation and bond yields elevated, though the direction of monetary policy remains uncertain. For African gold and PGM producers, these are quoted market prices at a specific time, not realised sale prices or evidence of a change in mine output.

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