Gold Rises More Than 1%, Fed Outlook in Focus

Asharq Al-Awsat EnglishOctober 9, 2026By Asharq Al Awsat

Gold rose more than 1% on Friday, helped by a softer US dollar and lower oil prices, while market players weighed lingering inflation concerns and the outlook for Federal Reserve interest rates. Spot gold rose 1.4% to $4,190.57 per ounce by 0630 GMT after hitting a two-month low on Wednesday. Prices headed for a weekly gain. US gold futures for December delivery gained 1.4% to $4,215.30, Reuters reported. The dollar rally took ⁠a breather, making ⁠greenback-priced bullion more affordable for holders of other currencies.

Read the full article at Asharq Al-Awsat English

More on this topic

Business

Ministry of Energy signs MoU with IEF; OSP inks deal with U.S. Foundation

The Saudi Ministry of Energy signed on Monday a memorandum of understanding with the International Energy Forum (IEF) to strengthen cooperation across the energy sector.

Saudi Gazette1 hour ago

Business

Al-Jadaan leads Saudi delegation to 2026 IMF-World Bank Annual Meetings

Minister of Finance Mohammed Al-Jadaan is leading Saudi Arabia's delegation to the 2026 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG), which began in Bangkok, Thailand, on Monday

Saudi Gazette1 hour ago

Business

Saudi Energy Minister Signs MoUs on Energy Cooperation with Mongolia, Tanzania, Cyprus, and Mauritius

Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz signed in Riyadh on Monday four memoranda of understanding with ministers from Mongolia, Tanzania, Cyprus and Mauritius to strengthen cooperation across a range of energy fields. The MoUs were signed on the sidelines of the 25th WPC Energy Congress, hosted by Saudi Arabia through October 15 under the theme “Pathways to an Energy Future for All."

Asharq Al-Awsat English3 hours ago