Gold Rebounds From Two-Month Low as Ounce Trades Above $4,100

Spot gold rose 0.7 percent to $4,141.09 an ounce on Thursday, 16 Mehr 1405 (8 October), Donya-e-Eqtesad reported. On Wednesday, 15 Mehr (7 October), gold had fallen to its lowest level since 5 August under pressure from a stronger dollar and higher US Treasury yields. US gold futures for December delivery gained 0.6 percent to $4,165.10 an ounce.

Chris Weston of Pepperstone said the short-term outlook for gold remains challenging and that the price would need to break above $4,275 for a more positive view. The minutes of last month's Federal Reserve meeting showed policymakers disagreed about the reasons for raising interest rates. Among other precious metals, silver was unchanged at $60.18, palladium rose 1.6 percent to $1,142.86 and platinum rose 2.1 percent to $1,665. Live quotes move during the day, and the figures above refer to Thursday morning trading.