Gold prices today, Monday, September 28, 2026: Gold prices slump as Iran tensions and oil prices rise - Yahoo Finance

AI desk brief

Gold December futures opened down 1.1% at $4,275.20/oz and were trading around $4,188.90/oz by 6:57 a.m. ET, the weakest since Aug. 5. The pullback is being driven by a firmer dollar, rising bond yields and a more than 70% CME-implied chance of another Fed hike in October, even as U.S.-Iran tensions keep oil elevated.

On a lookback basis, gold was 3.1% lower on the week and 8.2% lower on the month, though still up 13.1% year-on-year. The article frames the key near-term trade as rates/USD pressure outweighing the usual geopolitical safe-haven bid.