PRESS RELEASE: DOREX WEEKLY GOLD MARKET UPDATE – w/e 11.09.26: Gold Holds US$4,300 Support as Markets Brace for Fed Decision
Week in Review (Gold Price – USD/oz)
• High: US$4,403.20/oz
• Low: US$4,295.20/oz
• Average: US$4,329.20/oz
• Close: US$4,350.36/oz
Gold demonstrated resilience during another volatile week, successfully defending the important US$4,300/oz level as investors digested fresh US inflation data and prepared for next week’s Federal Reserve interest-rate decision.
The precious metal traded within a relatively tight US$108 range, reaching a weekly high of US$4,403.20/oz before falling to US$4,295.20/oz as US Producer Price Index and Consumer Price Index data kept the prospect of further monetary tightening firmly in focus.
Higher US Treasury yields and a stronger US dollar created additional headwinds for gold during the week. Despite these pressures, buying emerged around US$4,300/oz, allowing gold to recover and close the week at US$4,350.36/oz — above its weekly average of US$4,329.20/oz.
Dorex CEO John Kochanski said gold’s ability to hold support despite the combination of inflation concerns, higher yields and a stronger US dollar was significant.
“Gold was presented with almost every traditional short-term headwind this week, yet buyers continued to emerge around US$4,300,” Mr Kochanski said.
“That resilience tells us something about the underlying demand for gold. Investors may be debating the timing and direction of interest rates, but they are clearly not abandoning gold.”
Attention now turns squarely to the US Federal Open Market Committee meeting on September 15–16. The decision — and accompanying economic projections and commentary — has the potential to set the direction for gold through the remainder of September.
Market sentiment toward gold remains constructive, with investors increasingly treating near-term weakness as an opportunity to gain exposure rather than evidence of a change in the longer-term trend.
“The next few days will be about the Federal Reserve, but the bigger picture remains unchanged,” Mr Kochanski said.
“Gold continues to demonstrate that it can absorb considerable volatility without surrendering its underlying support. That is exactly the behaviour we would expect to see in a structurally strong precious-metals market.”
ENDS
