Commodities

Gold Prices Plummet on Stronger US Dollar and Rising Yields

Guavy AI Editorial Team Published September 24, 2026

Instruments

Oil Gold

Gold futures on Bursa Malaysia Derivatives closed lower on Thursday due to a stronger US dollar, which weighed heavily on the precious metal.

Quintex Intel's global strategist Stephen Innes attributed the decline in gold prices to several factors, including strong US Purchasing Managers' Index (PMI) readings, higher oil prices, and rising US Treasury yields.

The spot-month September 2026 contract fell to $4,263.90 per troy ounce from $4,319.30 on Wednesday, while October 2026 dropped to $4,273.10 from $4,336.30 yesterday.

Trading volume increased to 268 lots from 217 on Wednesday, and open interest rose to 328 contracts from 274 previously.

The Wire

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