Forex
Gold Prices Stabilize on Iran Talks as Fed Rate Hopes Shift
Gold prices steadied on September 23, 2026, as concerns over the Federal Reserve's interest rate path were tempered by developments in Iran talks. The precious metal declined as much as 2% to trade around $4,275 an ounce.
The renewed strength in energy prices, particularly oil, which moved back above $100 a barrel, stoked concerns over persistent elevated prices driven by Iran war-related supply disruptions.
The latest US data on manufacturing and services from S&P Global showed business activity jumped at the fastest pace since 2021, pointing to acceleration in demand-driven inflation. This reinforced bets that the Federal Reserve will raise interest rates to fight inflation.