Gold Edges Higher to Extend Weekly Streak, Fed Hike in Focus
Gold rose $26 to $4,416 for the week, extending its winning streak despite a Fed rate hike and firmer dollar. Volume data and technical signals suggest buyers may be returning.
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Gold rose $26 to $4,416 for the week, extending its winning streak despite a Fed rate hike and firmer dollar. Volume data and technical signals suggest buyers may be returning.
Analysts expect gold to trade in a narrow range next week as markets shift focus to manufacturing and services PMI data from major economies, with the dollar and geopolitical tensions also in view.
Gold initially dropped on the Fed's first rate hike in over three years but quickly surged the next day, suggesting the pattern of selling on rate-hike fears may be fading.
Central bank buying, dollar moves, crude oil, and seasonal demand are shaping the outlook for gold and silver through 2026 and beyond. Here’s what’s driving prices.
Gold rises 0.89% to $4,379 as oil prices ease, despite a Fed rate hike that had driven the metal to a two-month low. Key resistance sits at $4,400.
Gold fell Rs 800 per 10 grams on the MCX while silver gained Rs 1,000 per kg, supported by a subdued dollar and weaker crude oil prices amid global interest rate uncertainty.
Jefferies' Christopher Wood says gold could reach $10,000 over the long term, citing US fiscal pressures and rising Indian gold lending. He advises buying on dips toward $3,800-$4,000.
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.