Story perspectives

Gold hits record-low $4,155.67 as yields surge

By Drooid · Sep 29, 2026, 2:24 PM UTC · How we work

Summary

Gold Prices Drop

Spot gold fell to $4,155.67 per ounce, its lowest since August 5.
U.S. gold futures slipped 3.1% to $4,188.10 per ounce.
The 10-year Treasury yield rose to 5.22%, a level not seen since June 2007.
Brent crude climbed to about $107 a barrel after President Donald Trump rejected Iran’s peace proposal.
CME’s FedWatch tool shows over 70% odds of another Federal Reserve rate hike in October.

Summary

Western Mines Halted

Unhedged gold producers lose about $128 per ounce after a 3% price drop.
First-quarter 2026 all-in sustaining cost rose 16% YoY to $1,785 per ounce.
Western Australian mines halted because fuel shortages and diesel prices jumped 54%.
Orla Mining says a $10/bbl oil rise adds $2.50 per ounce to AISC.
Rising credit stress could force miners to sell gold for cash and create short-term selling pressure.

History

Historical Context

The 1980 gold surge to $850 per ounce, spurred by inflation and oil-price shocks, marked a historic peak after the 1971 Nixon shock. Gold again topped $4,000 per ounce in 2025 as soaring diesel costs pressure Australian producers such as Orla Mining. These repeat spikes revive concerns about commodity-driven credit stress.

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Gold Prices Drop

Spot gold fell to $4,155.67 per ounce, its lowest since August 5.
U.S. gold futures slipped 3.1% to $4,188.10 per ounce.
The 10-year Treasury yield rose to 5.22%, a level not seen since June 2007.
Brent crude climbed to about $107 a barrel after President Donald Trump rejected Iran’s peace proposal.
CME’s FedWatch tool shows over 70% odds of another Federal Reserve rate hike in October.

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