Gold
Spot gold is trading near $3,660.34 per ounce this morning, rising about 0.5%. After the Fed cut interest rates by 25 basis points, gold hit a record high this week. Then it eased slightly as markets digested Fed Chair Jerome Powell’s caution about future cuts. Gold’s rally continues because lower interest rates reduce the opportunity cost of holding non-yielding metal. Moreover, political pressure on the Fed and trade tensions make it more attractive as a safe haven. Investors also noticed central banks adding to reserves recently. Deutsche Bank forecasts gold may reach $4,000/oz in 2026 if easing continues.
Silver
Silver also gained sharply, rising about 1.3% to $42.35 per ounce this morning. It surged after the Fed cut rates, riding gold’s momentum but also gaining from improving industrial demand. Silver is being pushed up by expectations that rate cuts will boost investment demand. A weaker U.S. dollar and concerns about inflation also helped. Some profit-taking is seen, but silver’s strength reflects both safe-haven flows and its use in industrial and green tech applications. Analysts now see silver’s upside as stronger because it is still undervalued relative to gold.
Other news that is affecting these precious metals
The stock market is mixed but positive overall. Rate cuts appear certain: markets believe the Fed will ease again before year-end. The Fed signaled two more cuts this year but projected only one for 2026. That tempered some enthusiasm but still supports metals. Inflation data remains mixed. Consumer inflation stayed high in August, while producer inflation softened. Labor market reports showed weakness. All this adds weight to a dovish Fed path. The U.S. dollar strengthened somewhat after Powell’s cautious comments, limiting gains. Trade tensions and geopolitical risk—especially around tariffs and supply chains—also drive demand for gold and silver. A weak clean yields and central bank buying add further support.
Platinum
Platinum edged up about 0.3% today. Its price is near $1,387.62 per ounce. Demand from auto and clean-energy sectors remains a support. Supply constraints in key mining regions help. When metals markets are bullish, platinum often gets a lift even though it is less reactive to interest rate moves.
Palladium
Palladium also saw gains, climbing about 1.4% to $1,166.15 per ounce. Its value depends heavily on industrial demand, especially from catalytic converters. Though its price is under pressure from supply limitations, palladium benefits when safe-haven demand and rate cuts boost broader precious metals.
Final Word
Gold and silver are rising together today. Silver’s rally is strong because it captures both industrial demand and safe-haven demand. Gold remains a core hedge, driven by political risk, central bank buying, and a dovish Fed. Platinum and palladium lag slightly in reaction but share upward pull from the metals complex. As markets await further Fed guidance and inflation readings, both gold and silver may continue climbing, though stronger dollar-oriented corrections remain possible.
