Gold Prices Steady Ahead of Crucial US Economic Data Releases

Gold prices remained steady on September 29th as investors awaited key US economic data releases. The metal hovered near a seven-week low, weighed down by concerns that the Federal Reserve might maintain higher interest rates for an extended period. Spot gold was essentially unchanged at $4,124.57 per ounce, having reached its lowest level since August 5 in the previous session.

US gold futures declined by 0.3% to $4,156.70, while other metals fared worse. Silver dropped 0.6% to $60.62, platinum fell 1% to $1,699.86, and palladium lost 0.5% to $1,209.08.

Investors are closely monitoring the upcoming US economic data releases for any signs of inflation or growth, which could impact interest rate decisions and subsequently affect gold prices.