The morning briefing from Chapman Gold: what moved the gold market and why it matters. Prices in the banner above are live.
Gold ends the week higher after testing a two month low
Spot gold climbed about 0.9 per cent on Friday to around $4,169 an ounce, recovering after touching a two month low earlier in the week. A pause in the dollar rally made gold cheaper for holders of other currencies, and the 10 year Treasury yield fell for a second session (New Straits Times).
COMEX futures settle near $4,200
The October COMEX contract settled on Friday at $4,196.10 an ounce, up from $4,133.50 the session before, while December finished at $4,228.90 against $4,166.60 on Thursday. The London afternoon price on Thursday 8 October was $4,124.55 (Bernama).
Iran talks lift sentiment on Friday
Gold futures posted gains on Friday after reports of "productive discussions" with Iran, with the December contract quoted up 1.37 per cent at $4,213.90 by mid morning in New York (Yahoo Finance).
The Fed remains the market's main question
Traders continue to weigh lingering inflation concerns and the path of US interest rates. A late September report said the Federal Reserve had raised rates in September and that markets were pricing a strong chance of a further move in October; analysts warn that tightening could keep pressure on gold, while steady central bank buying may limit losses (RoboForex, New Straits Times).
Central banks keep adding gold
Over the twelve months to July, the 76 central banks reporting to the IMF added a net 290 tonnes, close to the 296 tonnes of the year before. Poland, China and Kazakhstan led the buying, while Russia and Turkey were the largest sellers. These are reported holdings only and leave out unreported purchases (World Gold Council, thetrading.tools).
India steady ahead of the festive season
Indian retail rates on 8 October were quoted at around ₹14,957 a gram for 24 carat, excluding GST and making charges, with trade described as range bound on steady physical demand. UBS expects Indian demand to fall to 725 tonnes this financial year before recovering to 800 tonnes the next (PSU Connect, Angel One, Mining.com).
Sources: New Straits Times, Bernama, Yahoo Finance, RoboForex, World Gold Council, thetrading.tools, PSU Connect, Angel One, Mining.com. Compiled Sunday 11 October 2026. Nothing here is investment advice; it is the news, read with a jeweller's eye. For what the market means in real terms, see The Gold Price, where the world is priced in gold.