⛏Gold Futures
GOLD
▼ NegativeMonetaryrelevance
Gold fell $170.90 to its lowest since August as the market weighed a Fed rate hike and 10-year TIPS yields hit ~2.9%, pressuring the metal.
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YLG Bullion International Company Limited issued its daily gold price outlook report for September 29, 2026, stating that continuous selling pressure emerged in the gold market yesterday, with gold closing down $170.90 to touch its lowest level since the start of August, after President Trump rejected Iran's proposal to open the Strait of Hormuz. Meanwhile, the market gave weight to the prospect that the US Federal Reserve will raise interest rates, pushing the yield on 10-year US inflation-protected Treasuries up to near 2.9%, the highest since the global financial crisis, which pressured gold prices. The analysis team views that today a short-term bounce may occur after prices have become oversold and a Bull Div signal has appeared on smaller timeframes. However, if the bounce fails to break through $4,244, the view is that it is likely a bounce before further declines, with the first resistance at $4,150-4,189. It recommends opening short positions when the price bounces but fails to break $4,150, and delaying to sell at $4,189-4,244, with a stop loss on short positions if the price breaks above $4,244. As for buying back short positions, this can be done if the price bounces without breaking below $4,110-4,109, and if it breaks below $4,109, delay buying back at the next support zone around $4,065-4,020. At the same time, oil prices pared gains after Reuters reported that US and Iranian officials held separate talks with mediators on Monday, September 28, and President Trump stated that further negotiations with Iran would take place within this week.
Gold fell $170.90 to its lowest since August as the market weighed a Fed rate hike and 10-year TIPS yields hit ~2.9%, pressuring the metal.