Gold Steady as Softer Inflation Data Dampens Rate-Hike Bets

Gold prices remained steady on October 1, 2026, as softer inflation data tempered bets of an interest rate hike by the Federal Reserve. The Fed's preferred measure of underlying inflation, the personal consumption expenditure price index excluding food and energy, rose a less-than-expected 0.2% in August. This figure was also revised lower for the prior month.

The steady gold prices came after falling 0.6% the day before, with bullion trading around $4,155 an ounce. Despite the softer inflation data, high bond yields left the door open to renewed selling pressure on gold.