⛏Gold Futures
GOLD
▼ NegativeMonetaryrelevance
Higher 10-year US Treasury yields, risk-on mood, and Fed rate-hike odds pushed COMEX gold futures down toward $4,000/oz.
Impact on assets 2
Others
Others
％United States Government Bond 10Y
US-10Y
▲ PositiveMonetaryrelevance
Rise in the 10-year US bond yield is cited as pressuring gold, so the yield itself is moving higher.
Theme Impact 1
Off-coverage companies 1
Metals FocusPrivate▲ Positive
Demandrelevance
Metals Focus forecasts gold to hit a record high in 2027 with an average price of $5,330/oz next year.
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Thailand
United States
Iran▼9
GCAP GOLD Flags Gold Volatility, Eyes Fed and Geopolitics, Advises Waiting to Buy at $4,100 Base
GCAP GOLD, or G Cap Company Limited, assesses that gold still faces volatility. Areerat Murachai, the company's chief analyst, said the recovery remains constrained by high US government bond yields and the dollar, even though the latest employment data helped reduce expectations for a Fed rate hike in October 2026. Prices rose after the labour data before running into selling pressure and falling back to around $4,140. The analyst noted that the 10-year yield climbed to around 5.28%, reflecting that the market still assigns weight to inflation risk and the interest rate path ahead. Key issues to watch are the minutes of the Fed's September meeting, due for release in the early hours of Thursday Thailand time, alongside fresh remarks from Fed officials and the tense situation between the United States and Iran that could spur safe-haven buying. But if oil prices rise enough for the market to worry about inflation and push bond yields higher, that could also weigh on gold. On investment strategy, the firm assesses a gold price range of $4,100 to $4,225, focusing on waiting to buy when prices build a base around support at $4,100 to $4,110, or Thai gold at about 65,000 to 65,200 baht, and scaling out of positions when prices recover toward resistance at $4,200 to $4,225, or Thai gold at about 66,500 to 66,800 baht. If prices break above $4,225 and hold that level, it would open the way to test the next resistance levels at $4,250 and $4,300 respectively, or Thai gold at about 67,300 to 68,000 baht. But if prices fall below $4,100, the analysis team believes investors should reduce the risk of long positions and wait to assess a new base around $4,000, or Thai gold at about 63,500 baht.
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Critical Materials & Supply Chain › Precious Metals ▼Pricing
GOLD · Monetary · Neutral Gold faces volatility: high bond yields and a firm dollar constrain recovery, while Fed minutes, Fed remarks, and US-Iran tension could spur safe-haven buying, but rising oil/inflation-driven yields could weigh.
US-10Y.GB · Monetary · Negative Article notes the 10-year US yield climbed to around 5.28% on inflation risk and the rate path, keeping yields elevated.
United States▲
GMV Minerals Reports 12.64 gpt Gold over 4.88 m from 2026 Mexican Hat Drill Program
GMV Minerals Inc. has completed its 2026 diamond drill program at the Mexican Hat Gold project in southeast Arizona, reporting 4,775 metres drilled across 25 holes from 24 platforms that tested the deposit over 950 metres of strike length and 370 metres of width. The company said all drill holes intersected significant gold mineralization within the established solids, with notable assays including 12.64 gpt gold over 4.88 m in MHC26-14, 3.30 gpt gold over 12.39 m in MHC26-24, and 1.33 gpt gold over 29.57 m in MHC26-09. A total of 94 significant mineralized intervals exceeding the previous 0.2 gpt gold cut-off were encountered, averaging 0.87 gpt gold over 7.74 m, and drilling has now tested over 90% of the mineralization. President and CEO Ian Klassen said MHC26-14 returned one of the highest gold drill intersections reported at the project to date, adding that the company looks forward to an updated NI Mineral Resource estimate this fall, the first since June 22, 2020, when it was compiled using a base case of $1,375 per ounce gold. The 25 new drill holes will be incorporated into a revised NI 43-101 Mineral Resource Estimate that the company intends to release in the coming months.
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Critical Materials & Supply Chain › Gold ▲Supply
Critical Materials & Supply Chain › Precious Metals ▲Supply
GOLD · Supply · Positive GMV Minerals reported high-grade gold drill results at Mexican Hat, signaling potential new gold supply and supporting gold's investment narrative
Côte d’Ivoire
Argentina
Peru
SenegalFortuna reports Q3 2026 production of 69,665 gold equivalent ounces, approves 30% Séguéla expansion
Fortuna Mining Corp. reported third quarter 2026 production of 69,665 gold equivalent ounces from its three operating mines in West Africa and Latin America, down from 72,217 GEO in the second quarter and 72,462 GEO in the third quarter of 2025. Production for the first nine months of 2026 totaled 214,754 GEO, keeping the company on track for its annual guidance of 281,000 to 305,000 GEO. The board approved a $109 million budget for a 30% expansion of the Séguéla processing plant in Côte d'Ivoire, lifting annual throughput to 2.3 million tonnes and supporting annual gold production of over 200,000 ounces from the second half of 2028. Séguéla produced 33,744 ounces of gold in the quarter, down from 41,683 ounces in the second quarter after reduced equipment availability at a mining contractor and a temporary site-wide stoppage caused by a blockade by artisanal miners. Lindero in Argentina produced 26,024 ounces of gold, a 25% increase quarter-over-quarter, while Caylloma in Peru produced 9,897 GEO and is positioned to exceed its annual guidance of 29,000 to 33,000 GEO. Fortuna also acquired the 190 square kilometer Bambadji advanced gold exploration project adjacent to Diamba Sud in Senegal, consolidating roughly 60 kilometers of prospective strike along the Senegal-Mali Shear Zone.
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Critical Materials & Supply Chain › Gold Supply
Critical Materials & Supply Chain › Precious Metals ▲Supply
FSM · Capital · Neutral Q3 production fell to 69,665 GEO from 72,217 in Q2 and 72,462 a year ago, but guidance is maintained and the board approved a $109M Séguéla expansion.
FSM · Supply · Negative Séguéla output dropped to 33,744 oz from 41,683 oz after reduced contractor equipment availability and a site-wide stoppage from an artisanal-miner blockade.
ChinaUnited States
Germany
Italy
United Kingdom▲
China's Central Bank Adds 740,000 Ounces of Gold in September, a 23rd Straight Month of Buying
China's central bank, the PBOC, said on October 7 that it added another 740,000 ounces of gold to its reserves in September, a 23rd consecutive monthly increase, as gold prices eased toward 4,000 dollars an ounce. Gold fell more than 6% in September as higher energy prices stemming from conflict in the Middle East stoked inflation and pushed the U.S. Federal Reserve to raise interest rates. Meanwhile, a survey of 74 central banks published by the World Gold Council in June found that 45% of respondents planned to buy more gold next year, the highest share since the survey began in 2018, with only one aiming to reduce purchases. Joachim Nagel, president of Germany's central bank, said earlier this week that rising government public debt is a factor pushing central banks to increase their gold holdings. Sergio Nicoletti Altimari, deputy governor of the Bank of Italy, told the London Bullion Market Association's annual meeting in Sorrento on Monday, October 5, that gold is a safe asset whose role is especially important now amid high geopolitical risk and concerns about economic fragmentation.
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Critical Materials & Supply Chain › Precious Metals ▲Demand
GOLD · Demand · Positive PBOC added 740,000 ounces of gold in September, a 23rd straight monthly increase, and a World Gold Council survey shows 45% of central banks plan to buy more gold next year.
Thailand▲7
Trinity expects SET to swing between 1,500 and 1,700 in the fourth quarter, highlights five standout stock themes
Trinity Securities assesses that global stock markets in the fourth quarter of 2026 will face a tug-of-war between macro factors weighing on sentiment and micro factors supporting the market. It expects the SET Index to swing within a range of 1,500 to 1,700 points and recommends gradually accumulating stocks when panic selling occurs, through a bottom-fishing strategy. It also highlights five standout stock themes: livestock, tourism, retail, processed agricultural products, and sectors benefiting from foreign direct investment.
Natchat Mekmasin, senior assistant managing director of the securities analysis department at Trinity Securities, said the SET Index target from the PE Model stands at 1,750 points in the best case, 1,630 points in the base case, and 1,510 points in the worst case, compared with the current SET level of about 1,580 points. Meanwhile, Thailand's implied equity risk premium is around 5.8%, higher than the long-term average of 4.0%.
Kamolchai Polinthong assessed that the gold price has passed its low of 3,900 US dollars per ounce and recommends gradually accumulating in the 4,000 US dollars per ounce zone, aiming to take profits at a target of 5,000 US dollars per ounce early next year.
At the same time, Trinity Securities has launched the DR Terminal program, developed jointly with the Stock Exchange of Thailand to help Thai investors access foreign stock data, with features including a Valuation Screener, DR Compare, and Trinity Underlying Scanner.
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Critical Materials & Supply Chain › Precious Metals ▲Capital
GOLD · Demand · Positive Trinity says gold has passed its low and recommends accumulating around $4,000/oz with a $5,000 target, implying investment demand upside.
MexicoStarcore Identifies Four Priority Geophysical Targets at San Martin Mine
Starcore International Mines Ltd. has identified four priority geophysical exploration targets at its San Martin Mine in Querétaro, Mexico, following its 2026 exploration program. The program combined an airborne MobileMT electromagnetic and magnetic survey by Expert Geophysics with a ground-based Induced Polarization and resistivity survey by GEOTEM, alongside reprocessing of historical magnetometer and IP data completed in 2024. Anomaly I, near existing mine infrastructure, is the most advanced target, with a preliminary program of approximately eight diamond drill holes totaling roughly 4,200 meters proposed. Anomaly II extends approximately 2 kilometers and requires additional three-dimensional modeling before drill targets are selected, while Anomaly III is a deep high-resistivity feature measuring 700 meters wide and 1,000 meters long located 3.6 km north of the known mineralized system. Anomaly IV, a 600-meter-long target in the southern sector between San José I and Santa Elena, is slated for a 2,500-meter drilling program planned for the remainder of the year, with drilling on Anomaly I and Anomaly IV beginning in mid-October 2026.
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Critical Materials & Supply Chain › Precious Metals Supply