Gold flat on firm dollar

October 01, 2026 (MLN): Gold traded little changed on Thursday as investors held back ahead of the US employment report, which could shape the Federal Reserve's next move on interest rates.

Currently, spot gold is up 0.27% to $4,183.9  an ounce as of [11:44 am] PST, according to data reported by Mettis Global.

The September nonfarm payrolls report is due on Friday. Meanwhile, the US dollar stayed firm on the back of continued gains in Treasury yields, which makes bullion more expensive for buyers holding other currencies, according to CNBC.

Wednesday's US inflation data showed consumer prices rising at a slower pace than forecast in August, with the previous month's price pressures also revised lower.

Gold gained briefly after the release but ended the session in the red.

The softer reading reduced bets on a Fed rate hike in October, though traders still price in an 87% probability of an increase in December.

Rate hikes weigh on gold because the metal pays no interest. Spot gold shed more than 6% in September.

On the geopolitical front, Iran said on Wednesday that it had received Washington's reply to its latest proposal for reviving the collapsed Gulf ceasefire. The reply came days after President Donald Trump said he had turned the proposal down.

Among other precious metals, spot silver edged up 0.5% to $60.69, platinum gained 0.1% to $1,708.43, and palladium slipped 0.3% to $1,200.15.

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