
Gold Holds Near $4,400 as Central Banks Absorb Supply
Gold futures settled Thursday at $4,399.70, up 0.6% on the week from Monday's open, after falling to $4,273.30 before the Fed's hike. Central banks bought a record 288.9 tonnes in Q2.
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Gold futures settled Thursday at $4,399.70, up 0.6% on the week from Monday's open, after falling to $4,273.30 before the Fed's hike. Central banks bought a record 288.9 tonnes in Q2.

Crude slides to $101.52 on easing Middle East supply fears while copper holds $6.53 as managed money adds net length after the Fed's 25bp hike to 3.75%-4.00%.

WTI falls to $104.81 as crude hands back the Hormuz spike. Saudi Arabia's East-West pipeline stays shut, with the Yanbu storage clock the key watch.

WTI holds near $102.83 and Brent near $107.41 as Saudi Arabia's Hormuz-bypass pipeline stays shut and Iran-Gulf talks stall. Crude is up 18.2% in a month.

WTI broke above $102 and Brent neared $107 as Saudi strikes and Hormuz attacks reopened the oil risk premium. Here is what to watch in Oman this week.

August CPI expectations: consensus calls for 2.9% headline inflation with core prices up 0.3%. What would surprise markets and which assets transmit the signal.

Gold futures (GC=F) climbed 0.27% to $4,472.70 on Thursday, holding above the critical $4,400 support level that has defined recent price action.

Gold holds $4,400 support as silver ETFs rally 2.3%. CFTC data shows managed money net long gold as central bank buying continues.

10-year Treasury yield at 4.78% signals term premium concerns as gold slips to $4,446 despite dollar weakness. Real yields pressure precious metals.

Copper futures fell 0.78% to $6.77 on September 9 as Chinese demand concerns resurfaced. Physical inventories remain low, suggesting the decline is demand-driven rather than supply-driven. Key support at $6.70 becomes the critical level to watch.

Silver futures gained 0.57% to $67.38 with managed money net long 26,739 contracts. Industrial demand supports silver above $67 despite ETF outflows.

WTI crude surged 2.4% to $93.70 after Houthi rebels attacked a Saudi Aramco refinery, adding geopolitical risk to an already tight oil market.