{
  "id": 10583566,
  "title": "Gold trades near seven-week low as rate-hike pressure mounts",
  "url": "https://urgent.news/2026/09/29/gold-trades-near-seven-week-low-as-rate-hike-pressure-mounts-10583566",
  "topic": "world",
  "section": "World",
  "published": "2026-09-29T01:22:08.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/09/29/gold-trades-near-seven-week-low-as-rate-hike-pressure-mounts"
  },
  "original_language": "en",
  "account": "Gold prices slipped to a seven-week low on Monday, dropping 4% after the deadlock between the US and Iran over the Strait of Hormuz persisted in driving up energy costs. The ongoing conflict, coupled with President Donald Trump's rejection of Iran's latest proposal to reopen the Strait, has fueled concerns about the war's energy impact. This, in turn, has put pressure on the Federal Reserve to raise interest rates. After tumbling to around US$4,120 an ounce, bullion prices have declined approximately 7% in September. The Federal Reserve's first rate hike since 2023, aimed at combating persistent US inflation, has further contributed to the decline in gold. Analysts from China Zheshang Bank Co Ltd noted that the selloff in the US bond market, triggered by Trump's rejection of the Iran deal, has intensified the energy shock. The benchmark 10-year Treasury yield reached a fresh 19-year high, making holding non-yielding assets like gold less appealing. Fed Governor Lisa Cook warned that high energy prices could push inflation higher, despite potential productivity gains from artificial intelligence. Investors are currently gauging a 70% chance of a rate hike in October. The Bloomberg Dollar Spot Index remained stable after a slight rise.",
  "summary": "The bullion is down around 7% in September after the Federal Reserve's first rate hike since 2023, aimed at tackling sticky US inflation.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
        "title": "Gold Trades Near Seven-Week Low as Rate-Hike Pressure Mounts",
        "url": "https://urgent.news/2026/09/29/gold-trades-near-seven-week-low-as-rate-hike-pressure-mounts",
        "published": "2026-09-29T00:02:41.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Gold trades near seven-week low as rate-hike pressure mounts",
        "url": "https://urgent.news/2026/09/29/gold-trades-near-seven-week-low-as-rate-hike-pressure-mounts-10585911",
        "published": "2026-09-29T01:22:08.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Gold trades near seven-week low as rate hike pressure mounts",
        "url": "https://urgent.news/2026/09/29/gold-trades-near-seven-week-low-as-rate-hike-pressure-mounts-10583055",
        "published": "2026-09-29T01:44:20.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}