Precious Metals Retreat Ahead of The Feds September Decision
16 September 2026
Precious metals remained under pressure overnight as investors positioned ahead of the highly anticipated Federal Reserve policy decision. Markets are now pricing a 92% probability of a 25bp rate hike (CME Group) following stronger-than-expected inflation data and a sharp rise in Treasury yields.
Recent reports showed August CPI rising 0.4% month-on-month while producer prices accelerated to 5.4% annually, reinforcing concerns that inflation remains sticky.
Daily Performance
Gold: Traded around USD $4,260-4,320oz, near its lowest level since early August.
Silver: Remained volatile, holding near the USD $64oz region after last week's sharp sell-off.
Platinum: Broadly softer alongside the wider precious metals complex, currently trading at USD $1,784oz.
Other Commodities
WTI crude oil pushed above USD $100/bbl amid ongoing Middle East supply concerns and disruption risks around the Strait of Hormuz.
The Fed's interest rate decision and accompanying guidance will likely dictate near-term direction for gold and silver. While higher yields and a stronger USD are headwinds, central bank and ETF flows provide longer-term support for precious metals.
Luke Tyler
Senior Analyst, ABC Bullion
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