Gold entered October broadly unchanged after United States inflation data came in weaker than expected, reducing the likelihood that the Federal Reserve will raise interest rates at its next meeting — a scenario that tends to benefit the precious metal, which pays no yield.
The personal consumption expenditures (PCE) price index, excluding food and energy — the Fed's preferred measure of underlying inflation — rose 0.2% in August from the previous month, falling short of the 0.3% advance forecast by economists surveyed by Bloomberg. The July reading was also revised downward.
Spot gold edged up 0.08% to US$4,160.30 per ounce, while silver gained 0.5% to US$60.70 per ounce.
Consumer spending in the United States also increased in August at its fastest pace in more than a year, helping to underpin the economy against a backdrop of persistent inflation. The data reinforces signs of resilience in the world's largest economy, even as elevated petrol prices keep inflation above the Federal Reserve's target for more than five years.
Swap contracts now point to roughly a 34% probability of an interest rate increase in October, down from nearly 70% at the start of the week.
According to Ewa Manthey, commodities strategist at ING Bank, interest rates and the persistent risk of further monetary tightening leave gold vulnerable to additional selling pressure.
Gold retreated 6% in September, its steepest monthly loss since June, after the Fed raised interest rates for the first time since 2023 and signalled that further policy tightening may be necessary.
Investors are now turning their attention to the US labour market report due for release on Friday.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/10/01/commodities-3/ouro-inalterado-com-inflacao-dos-eua-abaixo-do-esperado/
