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Gold Steady as Traders Weigh Lower Oil Against Higher Yields
Confirmed
In Short: Traders were also influenced by the strong August jobs report, which showed the creation of 162,000 new jobs, nearly three times the expectation, and a steady unemployment rate of 4.1%.
Gold prices rose on September 30, 2026, as traders assessed mixed market signals, including lower oil prices and higher Treasury yields.
According to the India Bullion and Jewellers Association (IBJA), gold rates for 24K, 22K, 20K, 18K, and 14K gold, as well as 999-purity silver, increased compared to the previous day.
Tanishq, a prominent jeweler, reported a 22K gold rate of Rs 13,755 per gram across major cities, up from Rs 13,640 per gram on September 29, 2026.
Other major jewelers like Malabar Gold & Diamonds and Kalyan Jewellers also set their 22K gold rates at Rs 13,710 per gram, reflecting ongoing market volatility.
The increase in gold prices came as Treasury yields rose sharply, with the US 30-year bond yield soaring to 5.647% and the US 10-year benchmark note reaching 5.302%.
Oil prices, which had been above USD 100 a barrel, added to the complexity, with traders expecting prices to rise again when markets reopen on Monday.
Zcash gained 2.8% on September 30, extending its steady climb past USD 1,140, while Bitcoin held steady near USD 78,000 despite slipping below its 50-week EMA.
Traders are keeping position sizes light until both the vote and the Federal Reserve decision become clearer, with attention turning to further Fed speakers and jobless claims ahead of the release of September’s Nonfarm Payrolls data on Friday.
What's confirmed
- Gold prices rose on September 30, 2026, as traders assessed mixed market signals, including lower oil prices and higher Treasury yields.
- According to the India Bullion and Jewellers Association (IBJA), gold rates for 24K, 22K, 20K, 18K, and 14K gold, as well as 999-purity silver, increased compared to the previous day.
- Tanishq, a prominent jeweler, reported a 22K gold rate of Rs 13,755 per gram across major cities, up from Rs 13,640 per gram on September 29, 2026.
- Other major jewelers like Malabar Gold & Diamonds and Kalyan Jewellers also set their 22K gold rates at Rs 13,710 per gram, reflecting ongoing market volatility.
- The increase in gold prices came as Treasury yields rose sharply, with the US 30-year bond yield soaring to 5.647% and the US 10-year benchmark note reaching 5.302%.
- Oil prices, which had been above USD 100 a barrel, added to the complexity, with traders expecting prices to rise again when markets reopen on Monday.
- Zcash gained 2.8% on September 30, extending its steady climb past USD 1,140, while Bitcoin held steady near USD 78,000 despite slipping below its 50-week EMA.
- Traders are keeping position sizes light until both the vote and the Federal Reserve decision become clearer, with attention turning to further Fed speakers and jobless claims ahead of the release of September’s Nonfarm Payrolls data on Friday.
What's still developing
- 22k gold rate at Tanishq today As of September 30, 2026, Tanishq's price of 22k gold jewellery is Rs 13,755 per gram across New Delhi, Mumbai, Chennai, Kolkata, Thiruvananthapuram, Coimbatore and Bengaluru.
- Because while traders were packing up and heading OUT to the beach for one final long weekend of summer, the August jobs report showed that we created 162k new jobs…. nearly 3 x’s the expectation… Unemployment held steady at 4.1%, labor-force participation ticked up to 61.6%, average hourly earnings rose 0.3% m/m and 3.1% y/y, while the average workweek ticked up to 34.4 hours.
- Recall, the debate was whether the economy was slowing enough to allow the Fed to sit tight, whether inflation remained the bigger problem and whether Hammack and Schmid were right to keep warning investors that rates may need to go higher.
- Bonds are being sold and that is sending yields up.
- The dollar last traded flat against a basket of currencies as traders awaited U.S.
- WazirX founder Nischal Shetty said oil above USD 105 and yields near 5% are tightening liquidity.
- Traders are watching whether the rally can clear resistance and extend further into next week.
- FX markets are steady as they absorb the latest geopolitical developments.
- In fact, of the various correlations we monitor, the inverse correlation between global equities and the dollar seems to be the strongest right now – far higher than the dollar's link to oil prices.
- John Cameron Pound to Euro Falls after BoE Holds Rates in 6-3 Vote Minesh Chaudhari British Pound to Euro Forecast: High UK Yields Keep GBP Above 1.165 Pound-to-Euro Steady as Markets Brace for ECB Rate Hike Modified: Wednesday, 9 September 2026 22:16 BST - Written by David Woodsmith STORY LINK Pound-to-Euro Steady as Markets Brace for ECB Rate Hike The Pound Euro exchange rate moved largely sideways on Wednesday as markets remained focused on the European Central Bank’s (ECB) upcoming interest rate decision.
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- The Euro (EUR) remained largely rangebound on Wednesday, with traders showing little appetite to make major moves before the European Central Bank’s interest rate decision on Thursday.