Gold prices in New York rose on June 9, reaching a one-week high.

Source: Xinhua Finance

Xinhua Finance, New York, October 9 (Reporter Xu Jing) — On October 9, the most actively traded gold futures for December 2026 on the New York Mercantile Exchange rose by 1.52%, closing at $4,220.3 per ounce and reaching a one-week high.

Due to a weaker US dollar, declining US Treasury yields, and falling oil prices, the prices of gold and silver rose on the day.

According to preliminary survey data released by the University of Michigan on the 9th, the preliminary US Consumer Confidence Index for October fell to 46.3 from 48.1 in September, marking the third consecutive month of decline. At the same time, consumers' one-year inflation expectations rose to 4.7% from 4.6% in September, and long-term inflation expectations also increased from 3.4% to 3.5%, both reaching the highest levels since May. The report has a positive effect on gold prices.

US President Trump recently stated that the United States will not attack Iran before the midterm elections on November 3, and that negotiations between the US and Iran have been productive, resulting in a decline in oil prices. Falling oil prices have boosted gold prices.

The Federal Reserve's September meeting minutes showed that the committee fully supports raising interest rates, but also revealed differences among policymakers: some view the move as precautionary, while others see it as the start of a tightening cycle.

This week, the Federal Reserve continued to comment publicly. Federal Reserve Governor Christopher Waller supports further interest rate hikes but said consecutive hikes are not necessarily needed. St. Louis Fed President Alberto Musalem stated that persistently high inflation and a robust labor market suggest that the Federal Reserve must focus on tackling inflation.

Next week, the September Consumer Price Index (CPI) and Producer Price Index (PPI) are scheduled to be released.

On the same day, December delivery silver futures rose by 2.84%, closing at $61.11 per ounce.

Editor: Zhu Henan