{
  "id": 10641501,
  "title": "Gold edges up from 7-week low; all eyes on Middle East, US economic data",
  "url": "https://urgent.news/2026/09/29/gold-edges-up-from-7-week-low-all-eyes-on-middle-east-us-economic-data",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T07:54:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/gold-edges-up-from-7-week-low-all-eyes-on-middle-east-us-economic-data"
  },
  "original_language": "en",
  "account": "Gold prices edged higher on September 29 as the precious metal fell to a seven-week low the previous day. Investors were closely watching developments in the Middle East and eagerly awaiting a slew of U.S. economic data to shed light on the Federal Reserve's future policy direction. Spot gold climbed 0.7% to $4,143.87 per ounce, while U.S. gold futures rose 0.2% to $4,175.10. Christopher Tahir, a senior market strategist at Exness, noted that geopolitical developments will continue to be a key factor for gold, as ongoing tensions could keep energy prices and yields high, while progress towards de-escalation could ease the pressure. Recent talks between U.S. and Iranian officials as part of renewed efforts to end the seven-month war were highlighted. Oil prices climbed for two consecutive days due to concerns over potential supply disruptions in the Middle East. Higher oil prices can stimulate inflation by raising costs throughout the economy, which may prompt central banks to increase interest rates. Gold generally suffers in a high-rate environment as investors gravitate towards assets that generate interest. Currently, there is a 70.3% probability of a Fed rate hike in October according to the CME's FedWatch Tool, up from 57.6% a week ago. Fed Governor Lisa Cook stated that she anticipates persistent inflationary pressure in the coming months due to AI-related demand and higher oil prices, without explicitly stating that additional rate hikes will be necessary. U.S. consumer confidence and job openings data are set to be released later in the day, along with ADP employment figures, PCE, and nonfarm payrolls. The week will also feature releases on ADP employment, PCE, and nonfarm payrolls. \"Persistent price pressures combined with resilient activity would reinforce expectations that central banks need to remain restrictive, keeping yields elevated and leaving gold vulnerable to further losses,\" Tahir concluded. Silver prices slipped 0.1% to $60.91, platinum fell 1% to $1,700.40, and palladium declined 0.4% to $1,209.26. Citi indicated that investment flows are anticipated to keep driving the platinum group metals market, as underlying fundamentals remain relatively stable.",
  "summary": "Spot gold rose 0.7 per cent to US$4,143.87 per ounce.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "ANBA News Agency",
        "title": "Seara generates USD 500m in Middle East revenue",
        "url": "https://urgent.news/2026/09/28/seara-generates-usd-500m-in-middle-east-revenue",
        "published": "2026-09-28T14:28:34.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "'Open the Strait': Texas firms warn Middle East chaos reigniting inflation",
        "url": "https://urgent.news/2026/09/28/open-the-strait-texas-firms-warn-middle-east-chaos-reigniting",
        "published": "2026-09-28T18:45:03.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "Oil extends gains as Middle East supply concerns persist",
        "url": "https://urgent.news/2026/09/29/oil-extends-gains-as-middle-east-supply-concerns-persist",
        "published": "2026-09-29T01:32:02.000Z"
      }
    ]
  },
  "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."
}