Gold Prices Stabilize Amid Fed Rate Hike Uncertainty

Gold prices stabilized on Thursday after experiencing a 6% drop in September. The decline was largely attributed to softer-than-expected US inflation data, which reduced expectations of another Federal Reserve rate hike.

However, rising Treasury yields and a stronger dollar continued to limit gold's potential gains. Meanwhile, Brent crude oil reversed earlier losses and approached $100 per barrel as investors weighed the impact of rising Middle East energy flows against ongoing US-Iran negotiations.

The price of copper futures fell below $6.50 per pound, near its two-week low, due to mixed economic data from top consumer China and a weeklong holiday in the country that is expected to dampen trading activity.