Gold Price Rises After September's Six Per Cent Decline

The gold price prediction for October to December has taken a positive turn after September's decline. In September, the gold rate fell by more than six per cent, but it bounced back in October with a 0.6 per cent increase to $4,183.22 per ounce.

The rise was attributed to the softer-than-expected US inflation report, which lowered expectations of a Federal Reserve rate hike in October. However, rising Treasury yields and a strong dollar limited further gains for gold.

Nitesh Shah, commodity strategist at WisdomTree, said that yesterday's inflation numbers were helpful for gold as they weren't as strong as the market had expected. This reduced expectations for rate hikes, making gold a better anti-fragile hedge.