Gold Prices Retreat Toward $4,150 as Treasury Yields and Oil Rise
Key Facts
Gold prices fell toward $4,150 per ounce, pressured by rising US Treasury yields and higher oil prices. FXStreet reported that the decline occurred despite data showing a slowdown in the Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge.
The impact of higher yields and energy costs outweighed economic data that typically supports the precious metal, as market dynamics shifted toward higher yields. This price action comes during Kevin Warsh's tenure as Federal Reserve Chair, amid a macro environment characterized by yield and energy price pressures.
Latest Updates · 3
- Notable·
Update: Data released on October 1, 2026, showed a slowdown in US manufacturing activity as the ISM Manufacturing PMI fell to 54.5 in September, missing the 55 forecast. This data helped gold prices stabilize around $4,158 (trading October 1, 2026) following the earlier downward pressure.
- Notable·
Update: Labor Department data released on October 1, 2026, showed initial unemployment claims fell to 297,000 for the week ending September 26, 2026. These figures, which beat market expectations, added to the headwinds for gold by signaling continued resilience in the US labor market.
- Notable·
Update: Gold held its support level at $4,113.82, while facing resistance levels at $4,234.68 and $4,334.57. This price action coincides with the 10-year US Treasury yield remaining near 5.30% on October 1, 2026.