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Spot Gold Holds $4,354 After Fed Hike; Silver Tops $64

By Markets Desk · 2026-09-17 · 2 min read
A stack of shiny, unmarked silver coins and a small pile of gold bars on a dark surface
Illustration: Tradingbird

Precious metals stabilize after a sharp rate hike shock. Spot gold trades near $4,354 per ounce, while silver remains above $64.

Spot gold is trading at $4,354 per ounce. The price dipped below $4,250 immediately after the Federal Reserve raised rates. The new interest rate range is set at 3.75% to 4.00%. Silver is trading above $64 per ounce. The market is digesting the decision to tighten monetary policy. The U.S. dollar strengthened in the aftermath of the announcement.

Investors are reassessing the outlook for interest rates. Higher rates typically reduce the appeal of non-yielding assets. This creates near-term pressure on gold prices. However, global investment demand remains a strong support factor. The World Gold Council reports significant inflows into gold-backed funds. Institutional and individual investors continue to buy despite the recent correction.

ETF Flows Show Strong Demand

SPDR Gold Shares, ticker GLD, holds approximately $145.28 billion in assets. The expense ratio for this fund is 0.40%. It attracted roughly $6 billion in net inflows over the last three months. iShares Silver Trust, ticker SLV, manages about $30.92 billion in net assets. Its expense ratio is 0.50%. The fund saw approximately $614 million in net inflows during the same period.

Gold-backed ETFs globally attracted $18 billion in inflows in August. Total assets under management reached $615 billion. Holdings hit a record 4,189 tons. This data comes from the World Gold Council. The figures indicate persistent demand for physical metal exposure. These funds offer a liquid alternative to buying bullion directly.

Silver Supply Deficit Continues

Silver prices are influenced by both investment and industrial demand. Uses in electronics and solar panels tie the metal to economic growth. The Silver Institute forecasts total demand to fall 2% in 2026. Total demand is expected to reach 1.11 billion ounces. Industrial demand is projected to decline 3% to 639.6 million ounces.

The market will remain in a deficit of 46.3 million ounces. This marks the sixth consecutive year of supply shortfalls. The deficit supports the price floor for the metal. Volatility in silver remains higher than in gold. Economic growth rates will continue to impact industrial consumption figures.

Key Variables for Future Prices

Fed policy remains the primary driver for precious metals. U.S. Treasury yields and the dollar strength are critical factors. Inflation data and geopolitical developments also affect valuations. ETF flows provide a direct measure of investor sentiment. GN auto markets/commodities: silver prices data highlights these ongoing trends. The interaction between these variables will dictate future price performance. Investors monitor these metrics to adjust their portfolios.

Based on reporting by TipRanks, compiled by the Tradingbird desk.

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