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Asia – Commodities Fundamental Forecast | 25 September 2023

Gold (XAU)

Key news events today

FOMC Member Kashkari Speaks (10:00 pm GMT)

What can we expect from DXY today?

Federal Reserve Bank of Minneapolis President Neel Kashkari is due to speak at the University of Pennsylvania’s Wharton School where audience questions are expected. He too could sing a hawkish tune as per his fellow FOMC members which would potentially drive DXY higher later today and add further downward pressure on gold prices.

Next 24 Hours Bias

Medium Bearish


Key news events today

No major news events.

What can we expect from Oil today?

Crude prices suffered its first close in the red after three weeks of strong gains where WTI oil gained 13% over this period. However, prices failed to stay above $92 per barrel last week and have now dropped under the $90 as a hawkish Federal Reserve raises concerns that higher rates could stifle demand for crude despite the tighter supply going into the last quarter of 2023.

Next 24 Hours Bias

Weak Bearish