| Market | Level (2 Oct 2026) | Move |
|---|---|---|
| Spot gold | ~$4,155/oz | -0.6% (day); >-3% (week) |
| US gold futures | ~$4,184/oz | -0.4% |
| USD/INR | ~95.96–95.98 (open est.) | Rupee under pressure near 96 |
| US 10-yr Treasury yield | ~5.34% | Highest since 2002 |
| Brent crude (Dec) | Above $100/bbl | +2% Wednesday; ~+14% in September |
Levels are indicative mid-morning snapshots from Reuters/WSJ/FX feeds on 2 October 2026 — live prices move; check our gold rate and converter pages.
Gold fell 0.6% to $4,154.78/oz in early Friday trade and is heading for a second straight weekly decline, down more than 3% for the week (Reuters). The pressure comes from a firmer US dollar — headed for a weekly gain — and 10- and 30-year Treasury yields sitting at their highest levels since 2002.
The day's big event is the September US nonfarm payrolls report, due at 1230 GMT (4:30 PM PKT). Analysts call it critical for the Fed's path: a hot print raises the chances of another rate hike (gold-negative), while a soft print could cut those odds and lift gold. Traders currently price only ~25% odds of an October hike versus ~70% earlier this week, with a ~79% chance of a December increase.
Silver added about 1.2% on dip-buying after closing Wednesday near $61.13 — still trading at multi-year highs.
The rupee is expected to open at 95.96–95.98 per dollar, having settled at 95.83 on Wednesday (Reuters, 1 Oct). The 96-per-dollar level is now the line in the sand: the Reserve Bank of India has repeatedly intervened to prevent a sustained break past it, drawing on its $600bn+ FX reserves.
Pressure on the rupee comes from three sides: elevated oil prices, rising US yields, and weak portfolio flows. A dovish repricing of Fed hike odds has offered some relief, but analysts say the RBI is containing rather than reversing the move. For remitters, the weak rupee remains a tailwind: every dollar sent converts into more rupees.
Brent December crude rose nearly 2% on Wednesday, taking its September rally to about 14%, as stalled US-Iran talks and tightening fuel markets kept supply risks elevated. Oil dipped about 2.5% on Tuesday on signs of recovering Middle East exports, then bounced straight back.
For UAE residents, the effect is already at the pump: October fuel prices are the highest of 2026 — Super 98 at AED 4.40/litre, Special 95 at AED 4.28, E-Plus 91 at AED 4.21 and diesel at AED 4.80. That's the third consecutive monthly increase, with petrol up 15.8–16.6% versus September. See our full breakdown: UAE Fuel Prices October 2026.
The September nonfarm payrolls report is due Friday 2 October 2026 at 1230 GMT — that's 4:30 PM Pakistan time / 3:30 PM UAE time.
High oil prices, rising US Treasury yields and weak foreign investment flows are pressuring the rupee, while the Reserve Bank of India keeps intervening around the 96-per-dollar level to stop a sharper fall.
Super 98: AED 4.40/l (+15.8% vs September), Special 95: AED 4.28 (+16%), E-Plus 91: AED 4.21 (+16.6%), Diesel: AED 4.80 (+11.6%) — the highest of 2026.
More updates: Markets Today (1 Oct) · Markets Today (30 Sep)
