Gold & Crude Oil Outlook 28th September 2026 by Pinky Yadav, Commodity Fundamental Analyst at Choice Broking
Below the Gold & Crude Oil Outlook 28th September 2026 by Pinky Yadav, Commodity Fundamental Analyst at Choice Broking
Gold
MCX Gold prices opened lower and maintained a bearish bias as the dollar index stayed near two-month highs. Stalled US-Iran negotiations kept oil prices elevated, strengthening expectations for further Federal Reserve tightening and supporting demand for the greenback. Several Fed officials cited resilient growth and a strong labor market as reasons for potential additional hikes. Investors now await the preferred inflation gauge and key employment data this week for further monetary-policy clues.
Crude Oil
Crude oil prices rose around 3% on the MCX, maintaining a bullish outlook after President Donald Trump rejected Iran’s Strait of Hormuz proposal, has led to increased escalations and restricted vessel movement in the Strait of Hormuz, impacting global commodity sentiment. Iran remains firm on its conditions, while Middle East tensions escalated as Saudi Arabia intercepted Houthi drones and a missile near energy infrastructure.
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