DBT Bureau
Pune, 23 Sep 2026
Precious metals edged lower as hawkish remarks from Federal Reserve policymakers and a firmer U.S. dollar weighed on prices, while weaker crude oil prices limited the decline. Investors continued to assess renewed inflation concerns linked to the latest escalation in the Middle East, alongside the Fed’s recent rate decision and the outlook for further monetary tightening. Spot gold traded near USD 4,320 per troy ounce, while spot silver remained above USD 65 per troy ounce.
- Precious metals edged lower amid hawkish remarks from Federal Reserve policymakers and a firmer U.S. dollar. However, weaker crude oil prices helped limit losses, while investors continued to assess renewed inflation concerns stemming from the latest escalation in the Middle East conflict, alongside the Federal Reserve’s recent rate decision and the outlook for further monetary tightening.
- Spot gold traded near USD 4320 per troy ounce, while spot silver traded above USD 65 per troy ounce.
- The Federal Reserve raised interest rates to a range of 3.75% to 4.00% and signaled additional rate hikes in the months ahead. The central bank noted that inflation remains elevated and emphasized that the latest policy action is intended to support a timely return to its 2% inflation target.
- Crude oil prices extended their decline from recent highs after reports indicated that Middle East oil flows remained resilient despite disruptions to Saudi Arabia’s East-West pipeline. Additional crude cargoes offered by Saudi Arabia through Oman helped ease concerns over the severity of regional supply disruptions.
- Meanwhile, investors closely monitored developments surrounding potential U.S.-Iran diplomatic talks on the sidelines of the United Nations General Assembly, as both countries signaled openness to a possible meeting, raising cautious hopes for a de-escalation of regional tensions.
- China’s aluminium production rose by 4.7 % to 3.98 million metric tonnes in August from a year earlier. In the first eight months of the year, China produced 31.12 million metric tonnes, a rise of 3.9 % from the same period last year.
- Copper inventories in LME registered warehouses have climbed nearly 20% since mid-August to 242900 tonnes, driven by elevated premiums for nearby contracts over longer-dated forward contracts, encouraging the delivery of metal into exchange warehouses.
- Europe’s gas storage facilities, which serve as a safeguard against supply disruptions and price volatility during the peak winter demand season, are currently 69% full, compared with the five-year average of 85% for this time of year. U.S. was a key source of Europe’s LNG imports over the last few years.
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Source: Geojit Investments Limited,
