Gold has stemmed its losses but remains on course to post a weekly decline of around 2%, with Friday’s modest daily gain driven by easing US Treasury yields and fresh indecision among Federal Reserve officials over the path of interest rates.
The precious metal advanced 0.34% to $4,192 per ounce, while silver also recorded gains, trading at $61.45 per ounce, up 0.93% on the session.
US Treasury yields softened on Thursday as concerns over France’s fiscal outlook prompted investors to seek safer assets. Higher yields typically weigh on gold, which carries no interest, and have helped explain the metal’s roughly 6% decline over the course of September.
Federal Reserve Vice Chair Philip Jefferson stated that more time may be needed to assess whether further interest rate increases are warranted. Markets now assign approximately a 26% probability to a rate hike in October, a sharp retreat from the roughly 70% probability priced in at the start of the week.
“Gold’s calm opening is only apparent and conceals strong cross-currents,” said Hebe Chen, Senior Market Analyst at Vantage Global Markets. Chen noted that moderating inflation and retreating oil prices offer the metal some breathing room, but that elevated yields and a strong dollar continue to cap any meaningful upside.
Oil prices have oscillated in recent sessions, with investors divided between the prospect of fresh escalation in the conflict involving Iran and improving supply flows from the Middle East, including through the Strait of Hormuz.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/10/02/commodities-3/ouro-estanca-perdas-mas-caminha-para-semana-negativa/
