Due to high energy prices and concerns about inflation driving up bond yields, the market expects that the Federal Reserve may raise interest rates further, and gold is likely to close down this week. In recent weeks, energy costs and expectations of further interest rate hikes from the Federal Reserve have dominated the trend of gold prices; rising borrowing costs usually hurt gold. Gold fluctuated in a narrow range around 4,300 US dollars per ounce in September, and traders continued to re-evaluate the Fed's policy prospects.

Due to high energy prices and concerns about inflation driving up bond yields, the market expects that the Federal Reserve may raise interest rates further, and gold is likely to close down this week. In recent weeks, energy costs and expectations of further interest rate hikes from the Federal Reserve have dominated the trend of gold prices; rising borrowing costs are usually negative for gold. Gold fluctuated in a narrow range around 4,300 US dollars per ounce in September, and traders continued to re-evaluate the Fed's policy prospects.