Gold ends losing week below $4,300 as yields dominate
Gold rose at Friday’s delayed close, but Kitco described a weekly loss as Fed bets and higher yields framed the market.
The delayed XAUTicker feed put spot gold at $4,285.20 per troy ounce at the Friday close, up $12.37, or 0.29%, after a session range of $4,256.43 to $4,315.29. That left the metal under $4,300, a level Kitco said had come back into focus after a drop below it. Kitco’s PM Report said gold capped a weekly loss as Fed bets and 5.2% yields limited a rebound. XAUTicker put spot silver at $64.32, up 0.77%, with the gold/silver ratio at 66.6.
Continued from the evening edition of 25 September 2026. Prices below are frozen at publication — the live gold price has the current figure, and this guide covers what tends to move it.
Rates and yields set the tone
Kitco framed the week as one in which gold rose on Friday but remained on track for, and then capped, a weekly loss as Fed rate-hike expectations built. VT Markets said gold slid as surging US real yields and hawkish Fed pricing lifted the opportunity cost of holding the metal. Investing.com also linked a dip in gold to a firmer dollar, an oil spike and soaring yields. Reuters reported that Fed official Hammack was worried inflation expectations could deteriorate, while a separate Reuters headline said Hammack did not see the bond-yield surge as being about lost inflation confidence.
- Gold slides as surging US real yields and hawkish Fed pricing lift opportunity cost VT Markets
- Fed's Hammack worried inflation expectations could deteriorate Reuters
- Gold caps weekly loss as Fed bets, 5.2% yields limit rebound - Kitco PM Report Kitco
- Fed's Hammack says bond yield surge not about lost inflation confidence Reuters
- Gold rises, but on track for weekly loss as Fed rate hike expectations build Kitco
- Gold dips slightly, weighed down by firmer dollar amid oil spike, soaring yields Investing.com
The Fed stayed central
Several headlines kept the Federal Reserve at the centre of the gold narrative. CNBC reported that New York Fed’s Williams said it was reasonable to expect another rate hike by year-end. The New York Times said the Fed faced the prospect of another interest-rate increase just before midterm elections. The Economic Times reported that US Federal Reserve’s Anna Paulson saw scope for more interest-rate hikes amid inflation risks, while SchiffGold.com said Philadelphia Fed’s Paulson admitted a sixth straight miss on the inflation target. GoldSilver also ran explainers on how FOMC meetings and interest rates move gold.
- What Is a FOMC Meeting? Here's How It Actually Moves Gold GoldSilver
- Philadelphia Fed’s Paulson Admits Sixth Straight Miss on Inflation Target SchiffGold.com
- Interest Rates and Gold: Why the Fed Didn't Move the Price GoldSilver
- Fed Faces Prospect of Another Interest Rate Increase Just Before Midterm Elections The New York Times
- US Federal Reserve’s Anna Paulson sees scope for more interest rate hikes amid inflation risks The Economic Times
- New York Fed’s Williams says it's 'reasonable' to expect another rate hike by year-end CNBC
Demand shifted with high prices
TradingView reported that high gold prices were changing festive demand, with its headline contrasting heavy necklaces and ETFs. BizzBuzz said gold futures rose on firm spot demand, while Bol News reported a sharp rise in Pakistan gold prices amid a global rally. IndexBox, citing the World Gold Council in its headline, said AI growth failed to lift overall gold demand in technology. InvestmentNews said gold’s rally drivers remained intact despite price surges. The Motley Fool compared physical gold ETFs, and VT Markets reported that Hong Kong was advancing yuan gold futures and a clearing system to build an international bullion hub.
- From Heavy Necklaces To ETFs; High Gold Prices Changing Festive Demand TradingView
- Hong Kong Advances Yuan Gold Futures and Clearing System to Build International Bullion Hub VT Markets
- IAU vs. AAAU: Which Physical Gold ETF Is the Better Buy for Investors? The Motley Fool
- Gold futures rise on firm spot demand BizzBuzz
- AI Growth Fails to Lift Overall Gold Demand in Technology, World Gold Council Reports IndexBox
- Gold's rally drivers remain intact despite price surges InvestmentNews
Traders watched $4,300
Kitco said Wall Street was split on gold’s price path after the drop below $4,300, while its headline said Main Street maintained a bullish majority as jobs took centre stage. Another Kitco headline said gold’s $4,300 support faced another test next week as bond yields surged and jobs data loomed. FOREX.com said a XAU/USD breakout needed confirmation, and Kitco asked whether gold’s cup was half empty or half full. Those headlines point to a market reviewing a major level rather than a clear consensus from publishers on direction.
- Gold forecast: XAU/USD breakout needs confirmation FOREX.com
- Is Gold’s Cup Half Empty or Half Full? Kitco
- Wall Street split on gold price path after drop below $4,300, Main Street maintains bullish majority as jobs take center stage Kitco
- Gold’s $4,300 support faces another test next week as bond yields surge and jobs data looms Kitco
What to watch
- Jobs data, which Kitco said was taking centre stage after the drop below $4,300.
- Fed-rate headlines from Reuters, CNBC and The New York Times.
- Bond yields, real yields and the dollar, cited by Kitco, VT Markets and Investing.com.
- Demand signals from festive buying, ETFs, technology use and Hong Kong’s yuan gold plans.