Gold price today, Thursday, October 1, 2026: Gold prices rather muted after softer-than-expected inflation data

Gold prices were little changed on Thursday, October 1, 2026, as traders balanced a softer-than-expected US inflation reading against high Treasury yields and a firm dollar. According to Yahoo Finance, December gold futures opened at $4,190.10 per troy ounce, up about 0.1% from Wednesday's closing price, and were trading at $4,204.70 as of 7:00 a.m. ET.

The muted move extended a week of range-bound trading. Yahoo Finance noted that gold has opened in either the $4,100 or $4,200 range every session this week as investors weigh competing forces, and that the opening price was roughly 3.1% below where it stood one week earlier.

The main supportive factor was the latest US inflation data. The PCE price index, the Federal Reserve's preferred inflation gauge, eased to 3.4%, which Yahoo Finance said has cooled the case for another Fed rate hike. Together with developments in oil prices, the report reduced expectations that the Fed would raise interest rates at its meeting next month. Lower policy-rate expectations typically reduce the opportunity cost of holding non-yielding assets such as bullion.

Working in the other direction were bond markets and the currency market. Yields on the 10-year US Treasury note are at levels last seen in 2002, according to the same report, while a firming dollar has been increasing the carry cost of gold for buyers outside the United States. Because gold is priced in dollars and pays no income, both higher real yields and a stronger dollar tend to weigh on demand.

Other outlets described a similar tug-of-war. FXStreet reported that gold slipped toward $4,150 during the early Asian session on Thursday under pressure from elevated US Treasury bond yields, and that the metal had failed to benefit from easing geopolitical tensions and falling crude oil prices as yields climbed following hawkish rhetoric from the Fed. FXStreet also flagged that XAU/USD was holding below both its 20-day and 100-day simple moving averages. CNBC put gold's spot price at $4,180.59 an ounce at 9:00 a.m. ET on Thursday, slightly below the $4,207.81 recorded at the same time on Wednesday. Kitco reported the metal near $4,158 an ounce after the ISM Manufacturing PMI dipped to 54.5, and pointed to a mixed run of US data this week that included JOLTS job openings falling to 7.08 million and a consumer confidence reading of 81.9.

In currencies, the dollar has stayed broadly supported. FXStreet noted USD/JPY sitting at a weekly top above 158.00, with the pair quoted around 158.37 by Exchangerates.org.uk, as a stronger dollar countered the risk of official intervention. The euro recovered against the yen to about 178.13 after testing its year-to-date low near 177.35, with FXStreet citing concern that Japanese authorities could act to resist further dollar strength and referencing comments from Japanese Finance Minister Satsuki Katayama.

Attention now turns to the US September employment report, due Friday, which FXStreet identified as the next major catalyst for gold and the dollar. Labour-market data feed directly into expectations for the Fed's next move, and those expectations in turn influence Treasury yields, the dollar and bullion. As always, no single data release determines how markets subsequently trade, and conditions can shift quickly around major releases.

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This is a news summary for general information only — not financial advice, and nothing here is a recommendation to buy or sell any currency or metal. Exchange rates and gold prices can move sharply around data releases and central-bank decisions, and trading them carries a real risk of loss, which leverage magnifies. Always verify against the original source and do your own research before making a financial decision.