Gold Price Hovers Near $4,140 Amid Softer Inflation and Elevated Yields

The gold price on October 3, 2026 hovered around $4,140 an ounce due to softer US inflation data and elevated Treasury yields. Spot gold traded at $4,140-$4,142 per ounce, down about 1% from the previous day and roughly 5% below its level at the start of 2026.

Despite the decline, gold remained above the important support level of $4,000. Market analysts have identified this level as crucial for determining the direction of gold prices.

The US inflation data had a temporary supportive effect on gold, but the impact was limited due to elevated Treasury yields and a firm US dollar. Higher bond yields create headwinds for bullion by making interest-bearing assets more attractive to investors.