Gold prices have maintained a sharp decline. Due to the ongoing stalemate between the US and Iran in the Strait of Hormuz, energy costs remain high, putting pressure on the Federal Reserve to raise interest rates. The price of gold fluctuated around 4,125 US dollars per ounce, after falling 4% to a seven-week low on Monday. Oil prices have risen, and Iranian officials privately expressed pessimism about reaching an agreement with Washington to end hostilities before the November US midterm elections, while Trump previously rejected Iran's latest proposal to reopen the Strait of Hormuz. The price of gold fell by about 7% in September, after the Federal Reserve raised interest rates for the first time since 2023 to deal with inflation and hinted that further rate hikes might be possible in the future. High energy prices have also put pressure on interest rate hikes. Investors currently think the possibility of an October rate hike is about 70%. Spot gold rose 0.2% to $4126.52 an ounce. Silver rose 0.2% to $60.77 an ounce, falling nearly 6% in the previous trading day.

Gold prices have maintained a sharp decline. Due to the ongoing stalemate between the US and Iran in the Strait of Hormuz, energy costs remain high, putting pressure on the Federal Reserve to raise interest rates. The price of gold fluctuated around 4,125 US dollars per ounce, after falling 4% to a seven-week low on Monday. Oil prices have risen, and Iranian officials privately expressed pessimism about reaching an agreement with Washington to end hostilities before the November US midterm elections, while Trump previously rejected Iran's latest proposal to reopen the Strait of Hormuz. The price of gold fell by about 7% in September, after the Federal Reserve raised interest rates for the first time since 2023 to deal with inflation and hinted that further rate hikes might be possible in the future. High energy prices have also put pressure on interest rate hikes. Investors currently think the possibility of an October rate hike is about 70%. Spot gold rose 0.2% to $4126.52 an ounce. Silver rose 0.2% to $60.77 an ounce, falling nearly 6% in the previous trading day.