Gold rebounds toward $4,180 following sharp early-week drop

Global gold prices staged a recovery on Wednesday, September 30, rebounding from a steep sell-off recorded earlier in the week. Spot gold traded in the $4,175–$4,180 per ounce range during morning sessions.

On Tuesday, bullion gained around 0.7% to settle at $4,142.89 per ounce, bouncing back from Monday’s nearly 4% drop that dragged prices down to $4,110.55—their lowest level since August 5.

The upward momentum remains tempered by a robust US dollar and elevated yields on U.S. Treasuries, weighed down by expectations of persistent monetary tightening and potential interest rate hikes by the Federal Reserve.

N. Tebrizli