CommoditiesMedium•30 September 2026•
1 min read
Gold Erases Gains as US Dollar Rebounds Above 101 Despite Cooling Inflation
Key Facts
1Gold prices erased all daily gains and turned lower as the US Dollar regained strength.
2The US Dollar Index climbed back above the 101 level despite the release of slowing inflation data.
Gold prices erased all daily gains and turned lower as the US Dollar regained strength. Investing.com reported that the US Dollar Index climbed back above the 101 level, even as newly released inflation data indicated a slowdown.
The price reversal on September 30, 2026, suggests that the dollar's resilience is pressuring non-yielding assets like gold. Market participants are navigating shifting expectations regarding the pace of future rate cuts by the Federal Reserve under Chair Kevin Warsh, which has triggered a shift in short-term momentum and market positioning.