Stories
Gold Stabilizes Amid Easing Oil Prices and Rising US Bond Yields
C
CNBC TV18•30-09-2026, 06:41
Gold Stabilizes Amid Easing Oil Prices and Rising US Bond Yields
- •Gold remained stable as markets weighed declining oil prices, which eased inflation concerns, against rising US Treasury yields.
- •COMEX Gold stood at $4,211, while Silver was at $61.75, reflecting minor changes from previous closings.
- •Crude oil prices continued to fall due to increased Middle Eastern supply, with Saudi Arabia boosting throughput, offsetting earlier Strait of Hormuz concerns.
- •Despite recent declines, Brent crude has seen a 70% appreciation this year as the regional conflict persists.
- •Rising US Treasury yields, reaching 2002 highs, and potential Federal Reserve interest rate hikes pose headwinds for gold, which offers no yield.
Key Questions Answered
Federal Reserve officials, including New York Fed President John Williams, indicated that the Middle East conflict and artificial intelligence infrastructure expansion are the principal drivers behind elevated inflation and the possibility of further rate increases.
Crude oil sustained its decline as Middle Eastern supply levels approached pre-conflict figures, with Saudi Arabia increasing pipeline throughput to offset Strait of Hormuz deadlocks, which helped mitigate energy-driven inflation concerns and allowed gold to stabilise.
Market participants are closely scrutinizing the upcoming release of the US personal consumption expenditure data as the Federal Reserve's favored inflation metric, alongside non-farm employment data.
