Gold is edging higher on Wednesday, benefiting from a pullback in crude oil prices that has eased investor concerns about persistently rising inflation driven by energy costs.
After gaining 1.6% in the previous session, gold advanced 0.35% on Wednesday to $4,195.69 per ounce, though the metal remains on course for a monthly decline of 5.4%. Silver fell 0.22% to $61.30 per ounce, bringing its September loss to 7.5%.
More significant gains are being capped by persistently elevated US Treasury yields, in an environment where energy costs remain high and could prompt the Federal Reserve to deliver additional interest rate increases. Such a scenario tends to weigh on gold, which generates no yield for investors.
Wednesday’s release of US Personal Consumption Expenditures (PCE) data — the Fed’s preferred inflation gauge — along with Friday’s employment report, are the next key economic indicators that investors will be watching closely for clues on the trajectory of interest rates.
Fed officials have warned that further monetary policy tightening may still be necessary, even after the central bank raised interest rates in the middle of the month — its first increase since 2023.
New York Federal Reserve President John Williams said on Tuesday that another rate hike ‘later this year’ could be appropriate. Following his remarks, investors trimmed the probability of a rate increase at the next policy meeting, scheduled for late October, from 70% to around 50%.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/30/mercados/commodities/ouro-em-ligeira-alta-mas-tomba-mais-de-5-no-mes/
