Oil Prices Slip as Supply Rises, Gold Gains on Fed Rate Bets
- 5th October 2026
- 12:00 PM
- 2 min read
Summary
Commodity markets traded mixed on 5 October 2026. Brent crude fell 0.34% to $101.90 a barrel as rising Middle East exports and a release of oil stocks by Group of Seven (G7) nations added to supply. Spot gold rose 0.4% to $4,158.17 an ounce as soft US jobs data lowered bets on an October Federal Reserve rate hike.Mumbai | 5 October 2026
Oil prices slipped on Monday, 5 October 2026, while gold edged higher.
Why Did Oil Prices Fall on 5 October?
Oil prices fell as rising crude exports from the Middle East and a release of oil stocks by G7 nations added to supply. Prices slipped despite concerns about further damage to Gulf oil infrastructure amid the Iran war. Brent crude fell 35 cents, while US West Texas Intermediate (WTI) crude fell 62 cents.
| Crude oil | Price (per barrel) | Change |
| Brent crude futures | $101.90 | Down 35 cents (0.34%) |
| US WTI crude | $90.49 | Down 62 cents (0.68%) |
Why Did Gold Prices Rise?
Gold drifted higher after soft US economic data sharply lowered expectations of a US Federal Reserve (Fed) rate hike in October. Gold pays no interest, so lower interest rate expectations make it more attractive to investors. US job growth slowed more than expected in September, and the nonfarm payrolls count, which measures US jobs outside farming, was revised sharply lower for the previous two months.
| Precious metal | Price (per ounce) | Change |
| Spot gold | $4,158.17 | Up 0.4% |
| US gold futures, December delivery | $4,186.40 | Up 0.6% |
Spot gold is the price for immediate delivery, while futures fix a price for delivery at a later date.
How Did Silver and Other Precious Metals Move?
Silver rose 1.3% to $61.15 an ounce after falling more than 6% last week, its biggest weekly fall since mid-July. Platinum and palladium also advanced.
How Did the Dollar Move?
The dollar started the week on a firm footing, staying near a 17-month high on Monday. Fiscal worries in France left the euro vulnerable against the dollar.
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