{
  "id": 11121929,
  "title": "Gold inches higher as softer US inflation dims October Fed hike bets",
  "url": "https://urgent.news/2026/10/01/gold-inches-higher-as-softer-us-inflation-dims-october-fed-hike-bets",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T05:19:54.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40442130/gold-inches-higher-as-softer-us-inflation-dims-october-fed-hike-bets"
  },
  "original_language": "en",
  "account": "Gold prices saw a modest increase on Thursday following a U.S. inflation report that was milder than anticipated, dampening expectations for a Federal Reserve rate hike this month. The precious metal climbed 0.5% to $4,175.19 per ounce, beginning the month on an upswing after experiencing a more than 6% decline in September. US gold futures for December delivery also gained 0.4% to $4,204.80. A report released on Wednesday indicated that U.S. inflation had risen less than expected in August, with price pressures revised downward for the previous month. This information reduced the likelihood of a rate increase in October, with markets now assigning a 38% probability, down from 45% prior to the release. While traders still consider a 97% chance of a December hike, higher interest rates tend to diminish the appeal of gold, which does not yield interest. Ilya Spivak, head of global macro at Tastylive, noted that \"incoming data is going to be important… to see how the market deals with it and shapes rate-hike expectations.\" The forthcoming U.S. nonfarm payrolls report for September, set to be released on Friday, is expected to further influence gold's trajectory. Despite the gains, the U.S. dollar remained close to a two-month high, limiting the extent of the metal's rise. Stronger currency values make dollar-priced metals more expensive for holders of other currencies. Bart Melek, global head of commodity strategy at TD Securities, acknowledged that \"all of gold's September losses are unlikely to be recovered, but there are reasons to believe that the worst of the correction is over for now and that there is a case for higher prices.\" On the geopolitical front, Iran announced on Wednesday that it had received a U.S. response to its proposal to revive the faltering ceasefire in the Gulf, days after President Donald Trump stated he had rejected it. Silver rose 1.2% to $61.11, platinum climbed 0.7% to $1,717.35, and palladium increased 0.3% to $1,207.12.",
  "summary": "Gold edged higher on Thursday after a softer-than-expected US inflation report tempered expectations for a Federal Reserve rate hike this month, with markets looking to upcoming jobs data for further policy signals. Spot gold rose 0.5% to $4,175.19 per ounce by 0417 GMT, starting the month on a positive note after a more than 6% fall in September. US gold futures for December delivery gained 0.4%…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}