Gold Gains 1.47 Percent to $4,194 on Friday as Markets Price Over 80 Percent Odds of a Fed Hike by December

Global gold rose 1.47 percent to $4,193.87 an ounce on Friday 9 October 2026 (17 Mehr 1405), approaching a one-week high, according to data source. The US dollar softened and oil prices retreated after Trump said Washington would not attack Iran before the midterm elections; those two factors weighed against the prospect of further US rate hikes.

St. Louis Fed President Alberto Musalem said on Thursday 8 October 2026 (16 Mehr 1405) that further monetary tightening may be needed to bring inflation back to the 2 percent target, although he did not say how he would vote at this month's policy meeting. According to the CME FedWatch Tool, traders were pricing in less than a 20 percent chance of a hike in October and more than an 80 percent probability of at least one 25-basis-point increase by December.

Gold is down about 2.86 percent over the past month but about 4.5 percent above a year ago. The prices are based on contracts for difference (CFDs) and are not an official benchmark. Domestic gold prices follow the global ounce and the dollar rate; see Sahmino's gold page for the recorded rates.