Gold Rebounds on Monday: Spot Price Rises 0.7% to $3,900.90 an Ounce
Gold prices bounced on Monday (November 2) after a selloff in the previous session, as weaker oil prices tempered inflation concerns, while investors assessed comments from the Federal Reserve for clues on the path of U.S. interest rates, according to Reuters. Spot gold rose 0.7 percent to $3,900.90 per ounce by 0440 GMT, after hitting a one-year low in the previous session. U.S. gold futures for December delivery gained 0.3 percent to $3,909.70.
Bullion slumped 3.5 percent on Friday, falling below its key $4,000 per ounce level to its lowest since October 2025, amid a selloff in technology stocks that led to the forced sale of safe-haven assets such as gold and margin calls. Oil prices fell more than 3 percent at the start of the week after Reuters reported that Iranian negotiators were in Doha on Sunday for a third consecutive day of talks with Qatari mediators aimed at pushing for a deal to end the U.S.-Israeli war on Iran. Elevated energy prices often raise expectations that the Fed will keep interest rates higher for longer, increasing the opportunity cost of holding non-yielding bullion.
On rates, a trio of Fed officials on Friday made the case for more interest rate increases to combat high inflation, in the first round of commentary after last week's monetary policy meeting left short-term borrowing costs steady. Traders are pricing in about a 73 percent chance of a rate hike in December, according to the CME FedWatch Tool. "Gold faces a difficult near-term environment in which technical selling and liquidity concerns are overshadowing its longer-term investment appeal," said Ole Hansen, head of commodity strategy at Saxo Bank, in a note.
Spot silver climbed 1.8 percent to $49.97, platinum gained 0.1 percent to $1,432.63 and palladium steadied at $976.31.
Related: 【视频】美联储维持利率3.75%至4.00%不变：FOMC以10比2通过决议，Cook与Hammack主张加息
Source: GSM · USA (original Chinese edition)
Photo: 标准金条资料图。图片来源：Szaaman／Wikimedia Commons（公共领域）
