Gold
Gold slipped this morning to about $3,655.10 per ounce, down slightly after reaching a record high around $3,707.40 yesterday. The dip follows the U.S. Federal Reserve’s 25-basis-point rate cut, which was widely expected, but also softer than some hoped. Fed Chair Jerome Powell’s “meeting-by-meeting” guidance raised uncertainty, causing dollar strength and rising bond yields that hurt gold briefly. Still, gold remains up about 39% for the year, backed by safe-haven demand, geopolitical risk, and strong central bank buying. Deutsche Bank raised its 2026 gold forecast to $4,000/oz, citing likely further easing and weaker dollar ahead.
Silver
Silver dropped more sharply than gold, falling about 0.7% this morning. Spot silver is now trading near $41.50 per ounce, off its earlier highs touched during the rally. The retreat reflects profit-taking after silver hit a 14-year high and also the effect of dollar strength and rising yields. Investors are still optimistic though, because silver benefits both as industrial metal and safe asset. Rising demand in electronics, solar industries, and concerns over supply deficit give it support. Analysts now forecast silver could reach $45/oz in 2026 as macro trends favor metals.
Other news that is affecting these spots
Markets are still absorbing the Fed’s rate decision. Though the cut was expected, Powell’s caution about future moves unsettled some. Mixed inflation data—consumer inflation remains sticky while producer inflation softened— contributes to the tug-of-war. Labor market reports show cooling, supporting rate-cut expectations. The dollar has firmed slightly, making metals pricier for foreign buyers. Political noise over Fed independence—particularly tension around leadership, nominations, and criticism—boosts safe-haven demand. Geopolitical risks remain elevated. And ongoing central bank and ETF purchases strengthen fundamentals. Deutsche Bank’s upgraded forecasts for both gold and silver reflect all these forces.
Platinum
Platinum posted a modest gain of about 0.3% this morning, trading near $1,360 per ounce. Its rise is more muted than gold or silver. Industrial demand—especially from auto and green technologies—anchors platinum. Supply constraints help keep its price from falling sharply. It benefits when metals markets are strong, but is less sensitive to rate or dollar swings.
Palladium
Palladium slipped about 2.6% today, falling to near $1,145.44 per ounce. The drop reflects profit-taking and shifts in demand from the auto sector. Since palladium is used heavily in catalytic converters, its fortunes depend more strictly on industrial conditions. Supply chain issues limit downside, but palladium doesn’t get as much boost from monetary or political uncertainty.
Gold remains resilient despite today’s pullback, largely because macro and political forces still favor easing. Silver’s sharper correction looks like profit-taking amid its steep run, but its industrial lean gives it extra tailwinds. Platinum and palladium lag but stay supported by demand and supply dynamics. As markets approach more U.S. inflation data, Fed statements, and geopolitical events, precious metals could swing again.
