Gold Rises as Fed Rate Hike Odds Dim
Gold prices edged higher on October 5, 2026, following a shift in market sentiment away from anticipated US interest rate hikes. The move came as recent economic data suggested weaker-than-expected job growth in September, alongside significant downward revisions for the prior two months. This softened the outlook for a Federal Reserve rate increase in October, boosting demand for gold as a non-yielding asset.
Spot gold prices advanced 0.4 percent to $4,158.17 per ounce, while US gold futures for December delivery rose 0.6 percent to $4,186.40. The US central bank had last raised its benchmark rate by 25 basis points in September, marking its first hike in three years and bringing the range to 3.75 percent to four percent.
Other precious metals also saw gains, with spot silver climbing 1.7 percent to $61.40 per ounce. Platinum and palladium each increased by 0.6 percent, reaching $1,708.48 and $1,175.04 per ounce, respectively.