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Gold Holds Near US$4,400 as Oil Surge Strengthens Fed Rate-Hike Case

Gold remained near US$4,400 as rising oil prices and stronger US economic data increased expectations of a Federal Reserve rate hike, offsetting safe-haven demand.

By Chee Liang CFA4 min read

Singapore, 9 September 2026 – Gold remained under pressure around the US$4,400-an-ounce level as escalating Middle East tensions pushed oil prices higher, creating an unusual market environment in which geopolitical risk is supporting safe-haven demand while simultaneously increasing expectations of tighter US monetary policy.

Spot gold slipped during Tuesday’s session after earlier attempts to advance, with investors increasingly focused on whether rising energy prices could reignite inflation and encourage the Federal Reserve to raise interest rates at its September meeting.

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Author

  • Chee Liang CFA

    Chee Liang CFA specializes in financial advice and global economic trends, delivering clear insights to help readers navigate markets, investments, and the shifting dynamics of the world economy.