Precious Metals Stabilize as Geopolitics Weigh Against Rate Expectations
Gold and silver prices were largely steady on Friday, September 25, after coming under pressure in recent sessions. The stronger US dollar and higher Treasury yields weighed heavily on precious metals.
COMEX gold was up 0.66% at $4,326.50 an ounce, while COMEX silver gained 0.43% to $64.280 an ounce. Oil prices eased slightly after a sharp rise in the previous session, with Brent crude down 0.69% at $105.85 a barrel and WTI declining 0.86% to $93.80.
Aamir Makda, Commodity & Currency Analyst - Technical Research at Choice Broking attributed the recent pressure on gold to a stronger US dollar and Treasury yields. Ashish Rajodiya, Head of Commodities at PL Capital, said the rate outlook was competing with geopolitical risks as a driver for bullion.