ع
The Emirates News Agency reported that spot gold climbed 0.3 percent to $4,158 per ounce in early Monday dealings. US gold futures for December delivery rose 0.4 percent to $4,175. The gains followed a period of consolidation as investors evaluated the impact of recent US economic indicators on future Federal Reserve policy.
According to Kitco market data, gold has seen significant volatility in 2026 with prices reaching an all-time high of $5,589 per ounce in January before pulling back to current levels around $4,140. The metal remains up approximately 5.5 percent from a year ago despite the correction. This performance reflects its continued appeal as a store of value amid global uncertainties.
A World Gold Council assessment found that central bank purchases have provided a floor for gold prices throughout the year. The council’s figures show official sector buying in several major economies offsetting weaker investment demand in Western markets. Such support has helped stabilize the market following the early year surge.
The Emirates News Agency noted that silver prices increased by 0.7 percent to $64.80 per ounce on the same day. Platinum edged up 0.2 percent to $1,750 while palladium gained 0.5 percent to $1,280. These parallel movements indicate coordinated sentiment across the precious metals group.
Data from GuruFocus places the October 2026 average gold price near $4,167, reflecting a year-over-year increase of more than 8 percent. The platform’s historical records show gold has maintained a strong long-term upward trajectory with an average annualized growth rate of nearly 11 percent. Investors are watching for any shifts in US Treasury yields that could influence near-term direction.
Analysts at RoboForex highlighted in a recent forecast that gold is testing key support levels around $4,100 with potential for a rebound if US data softens. The firm’s analysis points to the upcoming nonfarm payrolls report as a pivotal event for determining whether the Federal Reserve will continue its rate hiking path. A less hawkish outcome could provide additional upside for the yellow metal.
