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Fed tightening bets weigh on gold prices

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Fed tightening bets weigh on gold prices
Gold prices fell on Monday as a rise in oil prices heightened inflation concerns and reinforced expectations of further Federal Reserve interest rate hikes.

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Spot gold was down 0.7% at $4,254.77 per ounce, as of 0010 GMT. US gold futures drifted 0.7% lower to $4,289.70.
Iran insisted that only diplomacy can solve its conflict with the United States and Israel, after US President Donald Trump said he rejected an Iranian proposal to reopen the Strait of Hormuz and end fighting. Oil prices rebounded more than 1%.

The Fed raised rates earlier this month, lifting its target rate range by a quarter percentage point to between 3.75% and 4%. According to CME’s FedWatch Tool, traders are pricing in a 66% chance of a US rate hike in October.

Higher energy prices can fuel inflation by raising costs across the economy. Gold is widely viewed as a hedge against inflation, but it can struggle in a high interest rate environment as rising yields increase the opportunity cost of holding the non-yielding metal.

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Cleveland Fed President Beth Hammack said on Friday she is concerned that persistently high inflation risks conditioning the American public to accept elevated prices as the norm, adding the central bank cannot let that happen.
A survey showed US consumer sentiment slipped to a four-month low in September amid worries that rising inflation would erode households’ purchasing power.Among other metals, spot silver fell 1% to $63.67, platinum was down 0.7% at $1,765.28 and palladium lost 0.7% to $1,257.70.

No Data/Events Expected For Monday, September 28

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Why Independent Quality Control Matters More Than Ever

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Why Independent Quality Control Matters More Than Ever

For British and European companies, this creates considerable opportunity. But sourcing from a factory thousands of miles away also introduces a familiar challenge: how can buyers be confident that what leaves the factory actually matches what they ordered?

Supplier selection is only the beginning. Once production starts, maintaining consistent quality across materials, workmanship, specifications, packaging and shipment becomes equally important. This is where independent quality control can play an important role.

Vietnam’s Growing Role in Global Manufacturing

Over the past decade, Vietnam has developed into a significant manufacturing base for international brands, retailers and importers.

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The country now supports a broad range of industries, including textiles and garments, footwear, furniture, electronics, household goods, metal products, machinery and automotive components. Its extensive network of ports and proximity to other Asian manufacturing centres have also helped Vietnam become an attractive part of regional supply chains.

At the same time, sourcing strategies have changed.

Rather than relying on a single country or supplier, many companies are building more diversified production networks. Vietnam frequently forms part of this approach, particularly for businesses seeking additional manufacturing capacity in Southeast Asia.

However, moving production or adding new suppliers does not automatically guarantee consistent quality.

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New supplier relationships often involve different production processes, quality systems and interpretations of specifications. Even experienced factories can encounter problems when production volumes increase, materials change or delivery schedules become tight.

For overseas buyers, discovering these issues after goods arrive is usually the most expensive time to find them.

The Cost of Finding Problems Too Late

Quality problems rarely begin with a dramatic manufacturing failure. More often, they involve smaller deviations that accumulate during production.

A factory may use an incorrect component. Dimensions may gradually move outside tolerance. Colour or finishing may differ from the approved sample. Labels may contain incorrect information. Packaging may not provide sufficient protection for international transport.

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Individually, some of these problems appear minor. Across thousands of units, however, they can become commercially significant.

Once a shipment has left Vietnam, resolving a problem can involve returns, rework, replacement production, air freight, delayed deliveries or disputes with suppliers. For importers supplying retailers or project customers, the indirect cost of missing a delivery date may be even greater.

The objective of quality control is therefore not simply to find defective products. It is to identify problems at a stage when corrective action is still practical.

Why Independent Inspection Can Help

Factories normally have their own quality-control teams, and strong suppliers should be expected to maintain effective internal systems. Independent inspection does not replace those systems.

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Instead, it provides the buyer with an additional layer of verification.

An inspector works against the buyer’s specifications, approved samples, purchase order and inspection criteria rather than relying solely on the factory’s internal assessment.

Depending on the product and stage of production, an inspection may include checks covering quantity, workmanship, dimensions, functionality, materials, product marking, packaging and other requirements defined by the buyer.

For companies managing suppliers remotely, arranging a third-party inspection in Vietnam can provide an independent view of production before goods are released for shipment.

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This is particularly useful when working with a new supplier, producing a new product, handling a large order or manufacturing goods with detailed technical requirements.

Inspection Should Happen at the Right Stage

One common mistake is to think of quality inspection as something that happens only when production is complete.

Final inspection is important, but different stages of production provide different opportunities to control risk.

A pre-production inspection can verify materials, components and production preparation before mass manufacturing begins. This may be valuable when particular materials or components are critical to the finished product.

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During-production inspection provides visibility while manufacturing is underway. If a recurring defect or specification issue is identified at this point, the factory may still have time to correct the process before the entire order is completed.

Pre-shipment inspection is generally conducted when production is substantially complete. Inspectors select samples according to the agreed inspection method and evaluate the finished goods against the buyer’s requirements.

For containerised shipments, loading supervision can provide another level of control by checking quantities, container condition and the loading process.

The appropriate combination depends on the value of the order, complexity of the product and level of supplier risk.

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Technology Is Making Remote Quality Control Easier

Quality inspection is also becoming more transparent.

Digital reports, photographs and videos allow buyers to review findings without being physically present at the factory. Inspection results can often be shared shortly after the visit, allowing purchasing and quality teams in different countries to make decisions quickly.

This is particularly relevant for small and medium-sized companies.

Large multinational businesses may maintain their own quality teams throughout Asia. For smaller importers, employing permanent personnel close to every supplier may not be practical. Independent inspection allows them to access local quality-control resources when required without building the same infrastructure themselves.

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However, technology does not eliminate the need for technical judgement.

Photographs can show a defect, but an experienced inspector must still understand what to examine, how to sample products and how to compare the findings against the buyer’s specifications.

Quality Control Begins Before the Inspector Arrives

Inspection is most effective when expectations are clear.

Before production begins, buyers should provide suppliers with detailed product specifications, approved samples where applicable, packaging requirements and clearly defined acceptance criteria.

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The same information should be available to the inspection company.

Vague requirements create room for interpretation. A buyer cannot reasonably expect an inspector to reject a feature that was never included in the specification or purchase documentation.

Clear documentation also makes disputes easier to resolve because the factory, buyer and inspector are working from the same reference points.

The strongest quality-control programmes therefore combine three elements: clear specifications, capable suppliers and independent verification.

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Building More Resilient Supplier Relationships

Independent inspection is sometimes viewed as a sign that a buyer does not trust its supplier. In practice, it can serve a different purpose.

A transparent inspection process establishes objective expectations for both sides.

When requirements are clearly defined and inspection criteria are agreed in advance, suppliers understand what will be checked before shipment. Buyers receive evidence about the condition of the goods, while factories receive specific information about any corrective action required.

Over time, inspection data can also reveal patterns.

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Repeated issues involving packaging, dimensions, workmanship or particular production lines may indicate where suppliers need to improve their processes. Conversely, consistently strong inspection results can give buyers greater confidence in established suppliers.

The goal is not simply to reject defective shipments. It is to create a supply chain in which quality becomes increasingly predictable.

A Practical Part of Sourcing from Vietnam

Vietnam’s manufacturing sector offers international buyers significant opportunities, and its role in global supply chains is likely to remain important.

But geographical distance makes visibility essential.

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Companies sourcing internationally cannot always be present when raw materials arrive, when production begins or when containers are loaded. Independent quality control helps close that information gap.

For importers, the most effective approach is often straightforward: establish clear requirements, select suppliers carefully, verify production at the appropriate stages and address problems before the goods leave the factory.

The cost of preventing a quality problem is usually far easier to manage than the cost of discovering one after a container has travelled halfway around the world.

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Ingenia receives third takeover bid

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Ingenia receives third takeover bid

Ingenia Communities Group would not go ahead with its proposed acquisition of Peet if it accepts a $2.14 billion takeover offer from Warburg Pincus.

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Daimler Truck: Valuation Unattractive For New Investment, Still Not A Significant 'Buy' For Me

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German highway A3 and trucks

Daimler Truck: Valuation Unattractive For New Investment, Still Not A Significant 'Buy' For Me

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IVE: Higher Earnings Yield But Weaknesses Elsewhere, Underperformance Vs. IVV Likely

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QLV: Sensible Quality And Low Volatility Strategy, Yet Outperformance Is Unlikely, A Hold

IVE: Higher Earnings Yield But Weaknesses Elsewhere, Underperformance Vs. IVV Likely

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George Bamford to become JCB joint chairman alongside father

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Move comes as manufacturer’s pre-tax profits fell to £642m in 2025, from £687.3m.

A JCB digger

A JCB digger(Image: PA)

George Bamford is set to become joint chairman at JCB alongside his father, Lord Anthony Bamford, the digger manufacturer has announced.

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The news comes as the firm disclosed a decline in profits for the previous year, following a fall in machinery sales amid a “challenging” global economic climate.

The Staffordshire-based construction and agricultural equipment giant is currently ramping up investment across both the UK and US in an effort to spearhead a return to robust growth.

The business was originally established by Joseph Cyril Bamford in 1945.

His son Anthony has helmed the company as chairman since 1975, steering its global expansion, but has now confirmed he will share the position with his youngest son, George.

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Lord Bamford said: “Last year, JCB celebrated its 80th birthday and, as we look ahead, we are investing heavily in the future of the business – from the transformation of our Staffordshire headquarters and pioneering hydrogen technology, to our new factory in Texas.

“As part of that next chapter, I’m delighted that my son George will become joint chairman of JCB.

“We have never been a company that stands still, and these investments will ensure JCB is well placed to seize the opportunities ahead.”

George Bamford, who also founded watch brand Bamford Watch Department, will assume the position from the beginning of October.

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The announcement coincides with JCB pressing ahead with its new American manufacturing facility in San Antonio, Texas, which is due to open next month. The facility, which will generate 1,500 jobs over the coming five years, will enable the company to sidestep tariff expenses currently impacting UK-manufactured products exported to the US.

JCB is simultaneously boosting investment domestically, with a £100 million redevelopment of its headquarters, incorporating a £60 million fully automated powder paint facility.

On Monday, the group disclosed that turnover declined to £5.7 billion in 2025, compared with £5.8 billion a year earlier.

This followed the firm selling 113,498 machine units for the year, dropping by 5.2% year-on-year.

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It reported pre-tax profits decreased to £642 million for the year from £687.3 million in 2024.

JCB chief executive Graeme Macdonald said: “While 2025 was a more challenging year with mixed market conditions around the world, JCB delivered a robust performance overall.

“Despite nil market growth in North America and a 12% market contraction in India – both important markets for JCB – we increased our global market share during 2025, which is an encouraging result.

“The overall outlook for 2026 is for moderate growth, despite ongoing geopolitical uncertainty, and with new capacity coming on stream in Texas and Staffordshire we are well placed to take advantage of it.”

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Avanti West Coast services to be nationalised next year

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An Avanti West Coast Pendolino train arrives at Manchester Piccadilly railway station on 19 May 19, 2026 in Manchester.

Avanti West Coast train services will be nationalised from March next year, the government has announced.

“For years, we’ve heard stories of Avanti underperforming, with passengers left paying the price. Enough is enough,” Transport Secretary Heidi Alexander said.

The move is part of a government plan to improve rail infrastructure, cut train delays and improve experiences for passengers.

Avanti West Coast’s managing director said he was “proud of what we’ve achieved over the last six years”. The company’s contract was due to come to an end on 7 March.

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In a post on social media, Prime Minister Andy Burnham echoed Alexander’s comments.

“For years, people have been expected to put up with Avanti’s cancellations, delays, overcrowding, and a service that has failed them time and time again,” he said.

Andy Mellors, managing director at Avanti West Coast, said: “We’re proud of what we’ve achieved over the last six years – from refurbishing our Pendolino fleet and introducing our new Evero trains to running more services than ever before.”

He added: “Over the coming months, we’ll work closely with the government to ensure a seamless transition into public ownership while remaining focused on delivering for our customers and communities.”

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In May, Avanti West Coast said one-in-seven rail services will be cut on its busiest routes following a government request to reduce spending.

The company – a joint venture between FirstGroup (70%) and Italian state operator Trenitalia (30%) – predicted the move would cause minimum disruption to passengers and not reduce revenues.

Companies such as Avanti West Coast have their finances heavily influenced by the Department for Transport (DfT) due to contracts introduced in March 2020 at the start of the Covid-19 pandemic.

All train services operated under DfT contracts are being transferred to public ownership.

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Great Western Railway – which is owned by FirstGroup – is to be brought under public ownership in December.

Several rail firms around the country are already publicly owned, including Great Anglia and South Western Railway. Welsh services were nationalised in 2021 and Scotland took trains into public ownership the following year.

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Why is Samsung Electronics stock sliding today?

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Why is Samsung Electronics stock sliding today?

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Meta says Instagram Plus doesn’t reveal who rewatched your stories

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Meta says Instagram Plus doesn't reveal who rewatched your stories

Instagram will let you pay $3.99 a month to preview someone’s story without showing up on the viewer list, and some users are raising privacy concerns.

But parent company Meta is pushing back on claims that Instagram Plus reveals who repeatedly viewed a story.

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The feature shows how many times a story was replayed in total, a Meta representative told Fox News Digital, but it does not name the people behind those repeat views.

The subscription also adds a search bar to the existing viewer list, making it easier to check whether a particular person saw a story. Another feature, Story Preview, lets paying users take a quick peek at someone else’s story without showing up on that person’s viewer list.

WHAT META’S NEW TEEN RESTRICTIONS MEAN FOR YOUNG PEOPLE

Meta apps including Instagram, WhatsApp and Facebook

Meta says Instagram Plus does not reveal who repeatedly viewed your stories, pushing back on viral privacy concerns over its new $3.99 subscription. (Jens Büttner/picture alliance via Getty Images / Getty Images)

“Instagram Plus does not give subscribers more information about other people’s viewing habits,” the Meta representative said. The company said it designed the paid features to give users more “connection, expression, and control.”

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META EMPLOYEE ACCUSED OF ACCESSING PRIVATE IMAGES

TikTok user @suhaadada said she tried Instagram Plus on a free trial and was “ready to never use Instagram again.” She argued that the replay number could make a second view seem more meaningful than it is. Someone may simply swipe past a story too quickly and go back, she said.

Instagram phone app

Instagram Plus is drawing privacy questions, but Meta says the new feature doesn’t expose users’ viewing habits. (Lorenzo Di Cola/NurPhoto via Getty Images / Getty Images)

What unsettled her most, she said, was watching the timestamps beside names on her viewer list. She claimed some names jumped back to the top with updated times, which she took as a sign those people had viewed her story again. She said she found herself refreshing the list throughout the day and worried that other subscribers could draw conclusions about her own viewing habits.

NEW MEXICO SEEKS MASSIVE PENALTY FROM META AFTER JURY FOUND TECH GIANT LIABLE FOR ENDANGERING CHILDREN

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Teenager on Instagram

Meta is pushing back on claims that Instagram Plus lets users identify repeat story viewers, saying the $3.99 subscription only shows total replays, not who watched again. (Getty Images / Getty Images)

Other Reddit users have made similar claims about changing timestamps. Those accounts have not been independently verified. Meta said replay counts do not identify individual viewers but did not directly address users’ claims that names move to the top of the viewer list with updated timestamps.

She also objected to Story Preview because a person who posts a story may not see everyone who took a look. Meta confirmed that a subscriber can take a mini preview without appearing on the viewer list but said people who post stories are shown a notice explaining that previews may not show up there.

The subscription costs $3.99 a month in the U.S., with prices varying by country, Meta said. It also lets users extend a story by 24 hours, give one story more prominent placement and add posts to their profile or highlights without putting them in followers’ feeds.

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The TikTok user said she would not renew her subscription. Other critics have been just as blunt. One Reddit commenter called the features “stalker central,” while another wrote, “PLEASE paywall instagram so i will finally delete the app.”

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TSMC 2nm wafer capacity to exceed earlier estimates, EDN reports

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TSMC 2nm wafer capacity to exceed earlier estimates, EDN reports

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Dollar firms as US-Iran tensions lift oil, hawkish Fed bets build

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Dollar firms as US-Iran tensions lift oil, hawkish Fed bets build
The dollar inched higher to hold near a two-month high on Monday, as the US-Iran standoff continued to push up oil prices while investors looked ahead to a data-packed week for more clues on inflation and central banks’ moves.

The euro and sterling were both 0.1% weaker against the dollar, last at $1.1379 and $1.3232, respectively, hovering near multi-month lows against the greenback.

The dollar index, which measures the US currency against a basket of peers, was a touch higher at 101.15 and on track for a 1.7% gain in September, its best month since June.

Oil prices climbed more than 1% on Monday with Brent crude futures last above $106 a barrel, after US President Donald Trump rejected a peace deal with Iran to resolve their conflict and reopen the Strait of Hormuz.

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Energy supply risks and robust fundamentals in the US have heightened inflation concerns and prompted traders to price in a more hawkish Federal Reserve, while elevated long-end Treasury yields also supported the dollar.


“The greenback could overshoot in the near term if energy market tensions persist and inflation risks continue to build,” said Sim Moh Siong, FX strategist at OCBC.
The bank’s base case remains for a moderate USD rally into year-end, he added.The market’s focus is set to turn to US data releases as the week unfolds, with the PCE Index on Wednesday and non-farm payrolls on Friday both expected to be consistent with further policy tightening.

Currently, markets are seeing a 65% chance of a rate hike from the Fed when the central bank meets next at the end of October, according to CME Group’s FedWatch tool.

Other data for the week include China PMIs on Wednesday ahead of the week-long National Day holidays and Japan and euro zone CPIs on Friday.

The yen was last down 0.3% at 157.7 per dollar. It gained on Friday after Japan’s Finance Minister Satsuki Katayama and US Treasury Secretary Scott Bessent held a call on Friday and reaffirmed that yen undervaluation is a matter of concern and that the two nations intend to strengthen cooperation.

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The Australian dollar fetched $0.7017, down 0.07%, and the kiwi traded flat at $0.5661.

The Reserve Bank of Australia is expected to raise interest rates by 25 basis points to a near 15-year high of 4.60% on Tuesday, expected to be the final rate increase in the tightening cycle.

Elsewhere, offshore yuan weakened to 6.7235 per dollar after Trump and Chinese President Xi Jinping’s three-day summit did not yield any big public breakthroughs on a host of contentious issues.

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