Gold Prices Hold Steady Ahead of US Economic Data Releases

Gold prices held steady on September 29th ahead of key US economic data releases. Despite this, gold remained at its lowest level in over seven weeks due to concerns that the Federal Reserve may keep interest rates higher for longer.

The spot price of gold was virtually unchanged at $4,124.57 per ounce after falling to a low not seen since August 5th. Meanwhile, US gold futures dropped by 0.3% to $4,156.70.

Other precious metals also declined in value, with spot silver plummeting 0.6% to $60.62, platinum slipping 1% to $1,699.86, and palladium losing 0.5% to $1,209.08.