Data centres drive commodity demand beyond copper

Gold prices in the Philippines declined on Friday. The cost per gram fell by 25.53 Philippine pesos compared to Thursday.

Brent crude breaks the $103 threshold as geopolitical risks spike. Precious metals face pressure ahead of U.S. inflation data.

Spot gold dropped nearly 2% Thursday as crude oil breached the $100 mark and US Treasury yields rose to multi-year highs.

Indian gold prices have slipped to 13,244 INR per gram on September 11 amid global sell-offs driven by strong US inflation data. New reports indicate the drop to 15,289 INR for 24K gold is exacerbated by escalating geopolitical tensions, including Iranian attacks on US assets and merchant ships in the Gulf.

Gold slid toward $4,320 as strong US producer inflation data raised the odds of a Federal Reserve rate hike. The market now waits for Friday's consumer price index report to determine the next move for precious metals.

TD Securities warns that a break below $4,367 could trigger automated selling.

Spot gold trades at US$4,324.79 per ounce, marking a third consecutive weekly decline.

Gold has slid to $4,310 as rising Fed rate hike expectations, driven by strong inflation data, outweigh safe-haven demand from Middle East tensions. With U.S. CPI data imminent, analysts view the precious metal as technically bearish until key resistance levels are breached, while silver benefits from a projected physical supply deficit.

COMEX silver dropped $1.017 to $63.91 an ounce. Gold followed lower by 0.86%. Crude oil gains are pressuring precious metals.

Copper demand from AI and EVs is driving structural price increases. Experts advise limiting single-commodity exposure to 10% of total portfolios.

Alkane Resources Ltd reports a total group inventory of 8.64 million ounces of measured and indicated gold resources as of June 30, 2026. The company achieved this growth by replacing depletion across its three producing mines through active exploration programs.

Bullion trades flat near US$4,320 per ounce after a 1.8% drop. Rising energy costs and strong inflation data have increased expectations for US interest rate hikes this month.

Freeport-McMoRan projects a fourfold increase in annual copper output from leaching stockpiles, aiming to reach 800 million pounds.

Silver dropped 5.5 percent and gold fell 1.8 percent on Thursday following higher-than-expected US producer inflation and an ECB rate hike, which have increased the likelihood of further Fed tightening. Despite the sharp daily losses, both precious metals remain significantly higher than their levels from a year ago.

Gold prices dropped to $4,320 after US producer inflation data exceeded forecasts, raising expectations for a Federal Reserve rate hike.

Gold has rebounded to $4,400 amid dollar weakness, but futures opened at a one-month low of $4,359.40 ahead of CPI releases. Market focus is now on Fed rate hike probabilities, which have climbed to nearly 70% due to inflationary pressures from surging oil prices.

The People’s Bank of China extended its buying streak to 22 months despite record prices. This move aligns with a sharp decline in US debt holdings.

Precious metals declined sharply as hot U.S. producer price data intensified expectations of an imminent Federal Reserve rate hike.

Orezone Gold guides for 160,000 to 180,000 ounces of gold production in 2026, a significant jump from 110,014 ounces in 2025. This output ramp aims to boost cash generation as investors seek hedges against rising interest rates.

Silver has slipped below $63.50 to approximately $63.30 as hotter-than-expected US PPI data and escalating Middle East tensions push the probability of a near-term Fed rate hike above 72%. Analysts warn that the industrial nature of silver makes it particularly vulnerable to this macro environment, with TD Securities highlighting increased pressure on cyclical precious metals.

Silver prices fell sharply to $63.62 per ounce on Thursday. US producer inflation exceeded expectations, strengthening bets on Federal Reserve rate hikes.

China exported a record 162 million ounces of silver last year while importing almost none. This anomaly persists because domestic prices sit $8.72 above Western benchmarks, a gap maintained by a one-way tax structure rather than pure demand.

Copper prices dropped 5.3% to $6.52 per pound after reports indicated the US administration has paused its refined copper tariff plan. Mining equities suffered a sharp sell-off, reversing gains from a record-breaking month.

Gold prices retreated to 4332.18 as Brent crude breached 107.00 and Treasury yields climbed.

Spot gold fell 1.2% to $4,349.32 per ounce on Thursday. US producer price data and rising oil costs drove the decline. Market expectations for a Federal Reserve rate hike increased sharply.

Gold is trading near $4,358 as Brent crude hits $105 and Fed hike odds climb to 70%, creating a conflicted outlook where hawkish monetary policy pressures are offset by record ETF inflows and persistent safe-haven demand.

The precious metal lost value as the 10-year Treasury yield approached 4.93% following strong inflation data.

Gold prices have dropped to approximately $4,400 per ounce from a record high of over $5,500. Investors considering moving 401(k) funds into precious metals face strict IRS restrictions and tax penalties.

Shanghai’s silver premium over London persists not due to local demand but because a 13% import tax makes bringing foreign bullion into China unprofitable. This fiscal barrier simultaneously encourages the export of domestic refined silver, resulting in record outflows and a stagnant local supply that keeps the premium artificially high.

The Harbor Commodity All-Weather Strategy ETF reached a peak price of $36.07, marking a significant rise in commodity markets.

Syrian gold prices held flat on Thursday while US futures slipped 0.3% ahead of key inflation data.

US producer prices rose 0.4% in August. Gold and Bitcoin fell as bond yields spiked.

The 10-year US Treasury yield opened at 4.88%, signaling continued pressure on government debt costs despite official intervention.

Gold dipped 0.77% following the ECB's 25 basis point rate hike to 2.50%, a move Lagarde justified by citing persistent upside inflation risks through 2027 and downside growth risks from geopolitical conflicts, even as she highlighted recent economic resilience.

The FTSE Commodity CRB Index reached 423.11, marking a 42% gain for the year. This is the sixth super rally since 1957.

Gold futures opened at $4,448 per ounce, down 0.3% from the previous close, as markets await inflation reports and the Federal Reserve meeting.

Bernstein initiates coverage on Multi Commodity Exchange with an Outperform rating, projecting 15 percent upside based on strong derivatives growth and retail expansion potential.

Indian gold ETFs attracted Rs 2,597 crore in August, marking a sharp recovery from July levels as domestic prices hit new highs.

Spot gold prices stabilized at $4,396.69 per ounce as traders awaited key U.S. inflation indicators. The market remains focused on the Federal Reserve's likely policy path for the remainder of the year.

Morningstar economist Preston Caldwell argues that Treasury Inflation-Protected Securities are a superior inflation hedge to gold, which has recently retreated from its August peak.

Broad-based rally pushes key indices to multi-year peaks. Analysts warn of margin compression for US stocks.

Brent crude breaking $100 drove a broad market sell-off, overwhelming the impact of record copper prices.

Gold is testing the $4,420 resistance level amid a weakening dollar and elevated energy prices, with market attention now turning to upcoming U.S. inflation data and a 65% priced-in probability of a Fed rate hike this month.

Silver futures on the Multi Commodity Exchange fell by 568 rupees per kilogram to 2,43,645 rupees. This decline occurred as market participants reduced their exposure to the white metal.

MCX Gold trades at 153,400 rupees with analysts targeting a drop to 145,000. Silver sits at 242,000 rupees as rising US Treasury yields weigh on demand.

Gold prices climbed to 1.53 lakh per 10 grams on Thursday. Fresh speculative positions drove the gain. Spot demand remained firm. Global futures also rose.

Copper prices held steady at 14,980 dollars per ton on September 10, 2026, maintaining a position within 0.2% of all-time highs. This stability persists despite ongoing supply constraints and broader market volatility.

Silver futures on the Multi Commodity Exchange fell to Rs 2,43,645 per kg. Global spot prices remained firm at USD 67.63 per ounce.

Silver prices in India rose to 2,550 rupees per 10 grams on September 10. This marks a 50-rupee increase from the previous session. Ten major cities now share the same rate. The upward move follows three days of flat trading.

China has seen the closure of at least 1,396 gold jewellery stores as demand pivots toward investment bars, a trend exacerbated by falling marriage rates and sustained high prices. Major retailers including Chow Tai Fook and Lao Feng Xiang are significantly contracting their networks, with filings showing widespread store losses across lower-tier cities.

The IA Commodity/Natural Resources sector has delivered the highest returns among peer groups over the past five years, beating the Technology sector by approximately 12 percentage points. This performance has solidified the asset class as a core component of diversified portfolios.

Dubai 24K gold prices have eased to Dh531.25 per gram as global spot gold stabilizes above $4,400. Investors are currently weighing the impact of a weakening US dollar against looming US inflation reports that could influence Federal Reserve policy.

Spot gold climbed 0.3% to 4412.84 dollars per ounce on Thursday. The move followed a drop in the U.S. dollar index.

Gold price stalls at $4,345 near the 100-day moving average. Buyers and sellers contest the range between $4,350 and $4,422.

Spot gold has climbed to $4,412.84 on a softer US dollar, with analysts noting that macroeconomic factors are currently outweighing geopolitical concerns. While silver also posted gains, gold futures and platinum saw slight declines in the latest market updates.

Gold prices remain flat near the $4,400 level as market participants wait for key US inflation data to determine the Federal Reserve's next move.

Indian gold prices rose to 13,509.58 INR per gram on Thursday, a 29.28 INR jump from the previous close. Retail market data from Business Today indicates that 24-karat and 22-karat gold rates remain stable across major cities, with jewellers like Tanishq and Joyalukkas maintaining consistent per-gram pricing.

Silver dropped 1,500 rupees per kg while gold slipped to 1.53 lakh rupees. Traders are advised to secure gains before US economic data releases.

Gold pivots at $4,392.33. WTI oil pivots at $96.15. Daily levels define the trading ranges.

Spot gold rose to 4,418.71 dollars while Indian retail prices fell. The US-Iran conflict and upcoming inflation data drive the volatility.

Spot gold climbed 36 USD to 4,390.9 USD per ounce. Traders now price in a 60% probability of a US Federal Reserve interest rate increase this month.

Silver prices near $70 per ounce have accelerated the restart timeline for Andean Silver’s Cerro Bayo project, with management targeting a 2028 resumption of operations.

Spot gold trades near $4,400, pinned between moving averages as rising US Treasury yields and Brent crude above $100 complicate the Federal Reserve's outlook. Markets are currently pricing a 65% probability of a rate hike ahead of the mid-September meeting, keeping the precious metal in a tight trading range.

Silver futures climbed 2.34% on Wednesday, closing at 67.27. Gold gained 1.07% to finish the session at 4,447. Both precious metals posted solid daily gains.

Spot gold traded flat at $4,400.32 per ounce as investors await US inflation data. The market prices a 65% chance of a Federal Reserve rate increase next week.

Spot gold remains steady near $4,396 as traders brace for US inflation data that suggests a significant likelihood of a Federal Reserve rate hike. Amid this backdrop of tightening monetary policy, the ECB is also expected to hike rates today to combat energy-driven inflation.

Spot gold reached $4,403 per ounce as Brent crude surpassed $100 per barrel. This move follows geopolitical tensions in the Strait of Hormuz.

Silver price hits US$67 per ounce, enabling Polymetals to fund exploration from internal cash flow.

International spot prices climbed to $4,399 per ounce on September 10. Domestic SJC gold bars remained unchanged at 146.6 million VND per tael.

The US Treasury's decision to triple its bond buybacks to $6 billion failed to lower borrowing costs, with 10-year yields climbing to 4.85% as investors remained unconvinced by the intervention.

The Bloomberg Commodity Index has reached levels last seen in 2012, signaling a broad-based rally that extends far beyond energy markets.

The Bloomberg Commodity Index has reached its highest level since 2012. This broad-based rally threatens corporate margins and consumer spending across multiple sectors.

Spot gold closed near $4,400 per ounce, holding a significant premium over long-run production costs. ETF flows remain the primary driver of recent price volatility.

Spot gold rose 0.96% to $4,396.40, supported by a softer dollar and geopolitical demand that outweighed higher Treasury yields.

LME copper prices reached a record $14,708.50 per tonne as AI infrastructure spending accelerates. Miners anticipate a structural shift in global demand.

The 10-year Treasury yield rose to 4.857%, pressuring equity markets despite government buyback plans.

BHP Group reports US$29.0 billion in copper revenue, exceeding its US$23.9 billion iron ore segment. This shift highlights how geopolitical stability impacts commodity supply chains. Three Australian and European firms face distinct cash flow outcomes.

Spot silver climbed to $67.91, gaining 3.3% on a sharp decline in the US dollar index.

Gold consolidates as buyers and sellers battle between defined support and resistance zones.

Russian individuals have acquired 200 tons of gold since 2022, a volume exceeding the national wealth fund holdings. This shift reflects a strategic move away from foreign currency savings due to regulatory constraints.

Global gold ETFs hit a record 4,189 tonnes in August with $18 billion in inflows, driven by record European buying and a North American rebound linked to U.S. fiscal concerns and specific Treasury market developments.

Market odds for a September Fed rate hike have surged past 60 percent, creating immediate volatility risks for precious metals investors.

Gold reclaimed the $4,400 mark as US Treasury buybacks expanded to $6 billion. Silver approached $68, while platinum broke above $1,900 on supply concerns.

Silver prices surged past the 100-day moving average, invalidating a bearish technical setup.

Gold prices fell to $4,385 as US Treasury yields rose to 4.85% following a new debt buyback announcement.

Freeport McMoRan trades at 26 times 2026 earnings, a multiple that drops to 19 times for 2027. Copper prices exceed $14,500 per metric ton.

Gold trades at 4388 dollars per ounce while the dollar index drops to 98.6. The 10-year Treasury yield stands at 4.8 percent.

The gold-to-silver ratio dropped 1.1% to 65.5 today. Silver recovered more strongly than gold after a recent selloff.

Gold prices have doubled since March 2024, but miner profits have tripled. The average all-in sustaining cost margin reached a record high in the first quarter of 2026.

Kalshi commodities trading has exceeded $400 million in monthly volume, outpacing the growth trajectory of its cryptocurrency markets.

Silver prices stalled at $67.73 on Wednesday as traders awaited key inflation data. The metal remains trapped in a $65 to $70 range.

Gold prices in Delhi dropped for the third day in a row. Silver moved in the opposite direction with a significant gain. Market participants are watching US inflation data closely.

Spot gold rose 1.11% to $4,403.10 per ounce. Escalating U.S.-Iran tensions and oil prices above $100 drove the gain.

Gold spot prices have recently pulled back to $4,404.57 per ounce, though intraday data from Fortune shows the metal trading higher at $4,418 earlier today. This activity continues a broader trend where gold has surged over 25% since the beginning of 2025, solidifying its role as a key hedge against inflation.

The spot price of silver dropped to $66.23 per ounce on September 9, 2026. This marks a 0.25% decline from the previous close of $66.40. The metal remains 62% above its 52-week low despite the recent dip.

The People's Bank of China expanded its gold reserves by the largest amount since late 2023, signaling sustained institutional demand despite higher market prices.

Eldorado Gold has produced its first copper-gold concentrate at the Skouries project in northern Greece, marking a critical transition from construction to operational status. The site is targeting commercial production in the fourth quarter of 2026.

Western Gold finished drilling 667 meters at its first target, reporting surface intercepts up to 12.95 g/t gold.

Celestica leads a record-breaking TSX 30 cohort driven by AI and mining gains.

Copper dropped 0.4% to $14,645.50 a tonne after hitting a record peak. Middle East tensions and US inflation data are now weighing on prices.

Gold futures opened at $4,399 per troy ounce, a 0.9% decline from Tuesday's close. The drop follows U.S. military action against five Iranian oil carriers.

Spot gold has surged to nearly $4,400 on escalating US-Iran tensions and a softer dollar, prompting a parallel spike in domestic Indian bullion prices where 24K gold now exceeds ₹1.52 lakh per 10 grams. Investors remain on edge ahead of critical US inflation data that will dictate the Federal Reserve's next move on interest rates.

Net inflows into gold ETFs fell 55% in July to Rs.1,559 crore as investors paused allocations amid price volatility. While short-term flows have cooled due to profit-taking and leverage unwinding, experts remain bullish on the long-term outlook, driven by asset allocation needs and de-dollarization.

UBS maintains a constructive outlook on gold despite expectations for 50bp of Fed rate hikes, arguing that structural support from central banks and fiscal concerns outweighs near-term headwinds. The bank advises investors to view recent pullbacks as chances to build strategic positions, highlighting gold's role as a diversifier and hedge against inflation and geopolitical risk.

Gold remains pinned near $4,400 as traders await US producer price data, amid a widening gap between economist surveys predicting a Fed hold and market tools pricing in a likely rate hike. While Middle East tensions persist, analysts suggest central bank buying remains a stronger support for the metal than safe-haven demand.

Gold has reclaimed the $4,400 level amid a weaker dollar and oil prices exceeding $100, driven by escalating Middle East tensions. Market focus shifts to upcoming US inflation data, with traders currently betting on a higher probability of a Fed rate hike rather than a cut.