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    • Gold Near One-Week Low on Inflation and Rate Hike Concerns

    By on July 9, 2026
    Gold
    Gold

    Gold Declines Amid US-Iran Tensions and Higher Oil Prices

    Singapore: Gold prices declined today, hovering near their lowest level in a week after escalating tensions between the United States and Iran pushed oil prices higher and strengthened expectations that interest rates will remain elevated for a longer period.

    Spot gold fell 0.4 percent to US$4,060.46 per ounce after touching its lowest level since the beginning of July in the previous session. US gold futures for August delivery also declined 0.3 percent to US$4,069.80 per ounce.

    According to the CME FedWatch tool, markets are pricing in a 68 percent probability of a US interest rate increase in September and an 87 percent likelihood of a rate hike by January 2027.

    Among other precious metals, spot silver fell 0.9 percent to US$57.77 per ounce, while platinum rose 0.8 percent to US$1,591.13 and palladium gained 0.8 percent to US$1,223.95 per ounce.

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