Precious Metals Lose Ground As Oil Prices Press Higher -- Market Talk
Dow Jones2026/10/23 18:351435 ET - Precious metals extend losses with silver reaching a new low for the year and gold settling below the $4,000 level. Rising oil prices, with the implications for inflation, continue to weigh on gold, Konstantinos Chrysikos of Kudo says in a note. The Fed is expected to leave interest rates unchanged next week, so the market will focus on the statement and press conference, he says. "Any hawkish messaging, especially if oil keeps climbing, would likely extend bullion's losses." Any signs of a less restrictive stance could set up a relief rebound, he adds. Front-month gold for October delivery settles down 1.3% in New York at $3,991.10 a troy ounce. Silver falls 1.9% to $53.711 a troy ounce, its lowest settlement since Nov. 26, 2025. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
October 23, 2026 14:35 ET (18:35 GMT)
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