Oil
Gold rises as crude oil rally pauses
Precious metals gained ground as crude prices retreated and markets reacted to US inflation figures.
Key points
- Gold moved toward $4,150 per ounce following a decline in crude oil markets.
- US inflation reached 3.7% in September, exceeding forecasts.
- Federal Reserve officials commented on potential monetary policy paths.
Gold prices moved toward $4,150 per ounce, recovering earlier losses as a five-day crude oil rally came to an end, according to TradingView. The shift in commodities occurred alongside a broader risk-off market tone, as reported by Newsquawk.
Inflation and interest rates
Market sentiment continued to face pressure from expectations of further Federal Reserve rate increases following higher-than-expected US inflation data. According to TradingView, the US Consumer Price Index increased to 3.7% in September, surpassing the anticipated 3.6% and marking a four-month high driven largely by energy costs.
Federal Reserve Bank of Chicago President Austan Goolsbee termed the data discouraging, noting potential economic overheating linked to the rapid expansion of artificial intelligence infrastructure. Meanwhile, San Francisco Fed President Mary Daly suggested that additional short-term rate hikes might be necessary, though she saw no immediate requirement for an increase at the current month's meeting, TradingView reported.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
