Gold Futures Prices Plunge Amid Rising Interest Rates and Inflation Concerns

Gold futures prices have been under pressure in recent days, falling to $4168.7 as of October 1 at 21:16 ET. The price drop represents a 0.80% decline from the previous close of $4204.6. Volume is moderate at 10.66K.

Fed Governor Philip Jefferson has urged patience on further rate moves, stating that policymakers need more data as inflation, energy prices, and trade uncertainty cloud the outlook. This sentiment was echoed by three Fed officials who said a stable economy allows greater focus on persistent inflation.

Meanwhile, US President Trump stated that Iran must either sign an agreement or cease to exist. The 10-year Treasury yield has ended September with its highest quarterly gain in over three decades. Gold is slumping as oil spikes, real yields rise, and markets price in more Fed hikes.