Gold Market
Daily movements in the gold market and what is driving them.
MCX gold and silver futures saw mixed moves in early trade on 18 September as a drop in crude oil prices and a steady dollar offered support, while US-Iran tensions kept caution alive.
Gold rose more than 2% on Thursday, reaching $4,361, as a drop in oil prices pushed the US dollar and Treasury yields lower, offsetting the impact of the Fed’s latest rate hike.
Gold, silver and crude oil remain in focus as markets digest the latest US Fed rate hike. Analyst Vandana Bharti shares key levels and the outlook through 2026.
Gold and silver prices dropped sharply on the MCX on Thursday after the US Federal Reserve raised interest rates and signalled further tightening. Easing oil supply concerns added to the pressure.
Gold prices fell more than 1% after the US Federal Reserve raised interest rates and signalled further increases, pushing the dollar higher and pressuring non-yielding bullion.
New Found Gold has reached commercial production at Hammerdown in Newfoundland after two months of sustained throughput and recovery. Shares rose more than 5% on the news.
Gold prices rose on September 16 supported by a weaker US dollar. Traders awaited the Federal Reserve's policy decision, with markets pricing a 90% chance of a quarter-point rate hike.
Gold prices erased gains and slid after the Federal Reserve hiked rates by 25 bps to a 3.75-4.00% range, with most officials projecting at least one more increase this year.
Commodity markets are volatile as West Asia tensions disrupt supply chains. ICICI Direct's Pankaj Pandey explains the outlook for gold, metals and crude oil, and what it means for stocks.