Gold prices fell, heading for their worst weekly performance since June.
Gold prices fell on Friday, heading for their worst weekly performance since June, as rising oil prices fueled expectations that interest rates will remain elevated for a longer period.
Meanwhile, the US dollar index – which measures the performance of the US currency against a basket of six major currencies– was stable, trading at 101.68 points.
Analysts at HSBC lowered their estimates for average platinum and palladium prices for 2026 in a research note issued Thursday, attributing this to changing market fundamentals and investor liquidations, Reuters reported.
Traders widely expect the central bank to keep interest rates unchanged at the US Federal Reserve’s monetary policy meeting scheduled for Oct. 27-28, while the odds of a rate hike in December stand at 80%.
Changes in precious metal prices
Metal
Price ($/ounce)
Change ($)
Change (%)
Gold (December futures )
4,029.30
( 31.10 )
(0.75%)
Gold (spot)
4,012.85
( 12.00 )
(0.30%)
Silver (December futures )
54.14
( 0.87 )
(1.60%)
Silver (spot)
54.0752
( 0.50 )
(0.90%)
Platinum (spot)
1575.40
+6.86
+0.45%
Palladium (spot)
1056.16
+2.14
+0.20%
* At 08:14 a.m. Makkah time.
https://www.argaam.com/en/article/articledetail/id/1946532
