{
  "id": 11379242,
  "title": "Gold steadies before US payrolls data, set for second weekly loss",
  "url": "https://urgent.news/2026/10/02/gold-steadies-before-us-payrolls-data-set-for-second-weekly-loss",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T06:53:30.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/gold/gold-steadies-before-us-payrolls-data-set-for-second-weekly-loss/article71536094.ece"
  },
  "original_language": "en",
  "account": "Gold remained steady on Friday but was set to experience its second consecutive weekly decline, as investors awaited crucial US payrolls data that could provide insights into the Federal Reserve's policy direction. The price of gold per ounce was unchanged at $4,188.28 by 0625 GMT, marking a weekly loss of over 2%. US gold futures, however, rose by 0.4% to $4,218.60.\n\nThe US dollar was on track for a weekly gain, augmenting the challenge for metals priced in greenbacks, while yields on 10- and 30-year Treasuries hit their highest levels since 2002 on Thursday. Analyst Kyle Rodda from Capital.com noted that market participants were keenly observing US interest rate expectations and geopolitical events in the Middle East. He emphasized that US nonfarm payroll data would be crucial for determining rate expectations. A stronger-than-anticipated report could heighten the likelihood of rate hikes from the Fed, potentially exerting additional downward pressure on gold prices.\n\nEarlier this week, two Federal Reserve policymakers articulated a clear stance, advocating for the consideration of more data before deciding on another rate hike. The upcoming US nonfarm payrolls data report is scheduled for release at 1230 GMT. Recent data indicated that US inflation increased less than expected in August, with price pressures being more moderate in the preceding month than initially reported. Currently, traders are pricing in only a 26% probability of a rate hike this month, compared to around 70% earlier in the week. Nevertheless, they still anticipate an 80% chance of a rate increase in December. Elevated borrowing costs generally diminish gold's appeal, as it does not offer any interest income. Elsewhere, Iran is preparing a more extensive and assertive response if the United States resumes extensive military actions, according to sources. Simultaneously, Iran is engaged in a diplomatic push, though its officials privately view the prospects of success as low. Silver, platinum, and palladium all experienced weekly losses, with their prices climbing by 0.7%, 0.6%, and 1.3% respectively.",
  "summary": "Spot gold down over 2% so far this week; US gold futures rose 0.4% to $4,218.60",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Business Recorder",
        "title": "Gold slips before US payrolls data, set for second weekly loss",
        "url": "https://urgent.news/2026/10/02/gold-slips-before-us-payrolls-data-set-for-second-weekly-loss",
        "published": "2026-10-02T02:44:30.000Z"
      },
      {
        "outlet": "MyJoyOnline Ghana",
        "title": "Gold slips before US payrolls data, set for second weekly loss",
        "url": "https://urgent.news/2026/10/02/gold-slips-before-us-payrolls-data-set-for-second-weekly-loss-11350442",
        "published": "2026-10-02T03:14:00.000Z"
      }
    ]
  },
  "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."
}