Gold Prices Tumble on Global Economic Uncertainty
Global economic uncertainty weighed on gold and silver prices across leading jewellery brands and the Indian Bullion & Jewellers Association (IBJA) on Friday, September 11, 2026. The precious metals dipped as stronger-than-expected US PPI data boosted expectations of a Federal Reserve rate hike, with markets awaiting today's CPI report for further clarity.
According to Prithviraj Kothari, managing director at RiddiSiddhi Bullions Ltd., and president of the IBJA, gold is expected to trade between $4,300, $4,500, while silver holds within $63, $68, with a breakout needed for a decisive directional move.
Vedika Narvekar, Research Analyst- Commodities & Currencies at Anand Rathi Share and Stock Brokers Limited, noted that gold is trying to steady itself today, trading near $4,330 an ounce. The metal is still digesting yesterday's sharp 1.8% fall and heading for its third straight weekly loss.
The pressure on gold prices comes from two sides: oil and inflation. Brent crude is pushing toward $108 a barrel as the Iran-US conflict shows no signs of easing, while inflation continues to weigh on the metal.