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Oil Prices Slip on Rising Supply, Gold Gains on Softer Fed Rate-Hike Bets
M
Moneycontrol•05-10-2026, 08:17
Oil Prices Slip on Rising Supply, Gold Gains on Softer Fed Rate-Hike Bets
- •Oil prices fell due to increased crude exports from the Middle East and G7 nations releasing oil stocks, despite concerns about Gulf oil infrastructure amid the Iran war.
- •Brent crude futures dropped 0.34% to $101.90 a barrel, while US West Texas Intermediate crude was down 0.68% to $90.49 a barrel.
- •Gold prices rose as softer economic data, including slower US job growth in September, reduced expectations of a Federal Reserve rate hike in October, boosting demand for the non-yielding asset.
- •Spot gold increased 0.4% to $4,158.17 per ounce, and US gold futures for December delivery climbed 0.6% to $4,186.40.
- •Silver advanced 1.3% to $61.15 an ounce, recovering from a more than 6% fall last week, with platinum and palladium also seeing gains.
Key Questions Answered
Oil prices slipped due to rising crude exports from the Middle East and a release of oil stocks by Group of Seven (G7) nations, which added to global supplies.
Gold prices edged higher after softer economic data and a larger-than-expected slowdown in U.S. job growth during September lowered expectations for a Federal Reserve rate hike in October.
Silver climbed 1.3% to $61.15 an ounce following a more than 6% decline the previous week, while both platinum and palladium also advanced.
