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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Gold Starts October Higher as Cooling US Inflation Tempers Fed Rate Hike Bets

US Federal Reserve Gold Inflation United States
Markets await Friday’s US jobs report for clues on the Fed’s next move—and gold’s direction. (Credit: Pinterest)

Gold prices started October higher after softer-than-expected US inflation data tempered forecasts for another US Federal Reserve interest rate hike this month. However, elevated US Treasury yields continued to limit gains in the precious metal.

Spot gold rose to as high as $4,175.19 per ounce during Thursday premarket hours, while US gold futures for December surged over $4,204 per ounce.

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