Gold price fluctuates within a narrow range as the market awaits US non-farm payroll data.

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智通财经2026/10/01 03:06

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On Thursday during the Asian morning session, the gold price fluctuated within a narrow range, with spot gold currently trading near $4,155 per ounce. Investors are awaiting US employment data for clues regarding the Federal Reserve’s interest rate direction.
The closely watched US September nonfarm payrolls report is scheduled for release on Friday. Data released on Wednesday showed that US August inflation rose less than expected, and July’s price pressures were also more subdued than previously reported. Gold prices briefly rose after the data release but still closed lower.
This data weakened market expectations for a Federal Reserve rate hike in October, but traders see an 87% probability of a hike in December. The summary of the Bank of Japan’s September meeting indicated that some policymakers believe there is a need to accelerate rate hikes, or to raise rates sooner to levels closer to the central bank’s target. Since gold does not yield interest, rising rates reduce its appeal.
In geopolitics, Iran said on Wednesday it had received a response from the US to its latest proposal aiming to restart the already collapsed ceasefire agreement in the Gulf region. Days earlier, Trump said he had rejected the proposal. Additionally, Egypt’s mining industry attracted hundreds of millions of dollars in planned investment this week, with several companies seeking to develop gold and other mineral resources in what is considered one of Africa’s least explored countries.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Gold price fluctuates within a narrow range as the market awaits US non-farm payroll data.

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