{
  "id": 9454078,
  "title": "Gold holds drop as higher oil and hot US data fan rate hike bets",
  "url": "https://urgent.news/2026/09/24/gold-holds-drop-as-higher-oil-and-hot-us-data-fan-rate-hike-bets-9454078",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T00:50:23.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/energy-commodities/gold-holds-drop-higher-oil-and-hot-us-data-fan-rate-hike-bets"
  },
  "original_language": "en",
  "account": "Gold experienced a decline on Wednesday as increasing energy prices and robust US economic data elevated expectations that the Federal Reserve might raise interest rates again to curb inflation. The precious metal was trading at $4,290 per ounce, following a 1.7% drop the previous day. Oil prices surged after Iranian President Masoud Pezeshkian addressed the UN, expressing Iran's resolve to maintain control over the Strait of Hormuz despite sanctions and a US blockade. He emphasized Iran's willingness to engage in negotiations, but ruled out concessions, stating that the nation is not seeking atomic weapons but will not relinquish its nuclear technology rights for economic gains. The previous day, US President Donald Trump claimed his officials had held \"very good\" talks with Iranian representatives at the UN summit. Gold's decline stems from the Fed's outlook, as investors evaluate whether escalating energy costs will maintain inflationary pressures sufficient to warrant additional rate hikes, potentially harming the asset that yields no interest. Since the US-Iran conflict escalated in late February, gold has fallen about 20%. US Treasury yields surged to their highest levels in nearly two decades, with the five-year rate surpassing 5% for the first time since 2007. Meanwhile, US business activity surged to its fastest pace in over five years, driven by heightened demand, increased orders, and job growth in manufacturing and services. The S&P Global flash US composite purchasing managers index soared to 58.4 in September, the highest since July 2021. Federal Reserve Governor Michael Barr signaled that additional rate hikes may be necessary to bring inflation back to the central bank's 2% objective. These remarks joined a series of recent warnings from other policymakers that price pressures are proving persistent. Swap markets now anticipate at least three rate increases by April 2027, a rise from earlier this week. Gold prices ticked up 0.1% to $4,290.29 an ounce at 8:08 am Singapore time. Silver slipped 0.2% to $64.31 an ounce after falling 4% the prior day, while platinum and palladium declined. The Bloomberg Dollar Spot Index remained flat after rising four consecutive days to a near two-month peak.",
  "summary": "Bullion has been dictated by the US Federal Reserve’s rate outlook in recent weeks",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
        "title": "Gold Holds Drop as Higher Oil and Hot US Data Fan Rate-Hike Bets",
        "url": "https://urgent.news/2026/09/24/gold-holds-drop-as-higher-oil-and-hot-us-data-fan-rate-hike-bets",
        "published": "2026-09-24T00:12:14.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Gold steadies after selloff as oil, strong U.S. data lift Fed hike bets",
        "url": "https://urgent.news/2026/09/24/gold-steadies-after-selloff-as-oil-strong-u-s-data-lift-fed-hike-bets",
        "published": "2026-09-24T01:22:12.000Z"
      }
    ]
  },
  "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."
}