Shanghai Gold Exchange Gold T+D closed down 1.43% at 894.29 yuan/gram in the Sept. 28 evening session; Silver T+D closed down 1.48% at 14,893.0 yuan/kg.

Reserve Bank of Australia governor Bullock said multiple inflationary pressures make the current situation very challenging.

Bank of England deputy governor Ramsden said he would be prepared to support a rate rise if upward inflationary pressures continue. His remarks echo concerns by other deputy governors that rising energy costs could trigger a wage‑price spiral. The BoE's Monetary Policy Committee voted 6‑3 this month to hold Bank Rate at 3.75% but warned inflation could peak around 4%—well above previous forecasts and at a level warranting action. Markets price roughly a 25bp hike at the November meeting. Ramsden said he remains focused on energy-cost pressure from the Iran war, will watch for second-round effects in domestic food prices, and will monitor the upcoming survey of firms’ planned pay adjustments.