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Commodity Market Plunges: Gold, Silver Down as Crude Oil Rises Amid US-Iran Tensions

Guavy AI Editorial Team Published September 28, 2026

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Oil

The commodity market saw significant changes on Monday, September 28, with gold and silver experiencing pressure while crude oil prices climbed.

Silver fell to around $61.5 per ounce, down about 4.2%, as rate pressure combined with weaker industrial demand outlook weighed on the metal.

The precious metals had a tough start to the week, whereas energy prices reacted to weekend headlines from Washington and Tehran.

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