Quote on Gold and Crude 15th Sept 2025 by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Below the Quote on Gold and Crude 15th Sept 2025 by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
COMEX gold surged to a new all-time high of $3,715.2/oz on Friday, driven by growing confidence that the Federal Reserve will cut interest rates by 25 basis points at its September meeting. The CME FedWatch Tool shows traders pricing in two additional 25 bps cuts in October and December, reinforcing the bullish momentum. Gold was further supported by escalating geopolitical tensions, strong inflows into bullion-backed ETFs, and President Donald Trump’s ongoing attempts to influence Fed policy. Spot gold held firm above $3,680/oz today, following a fourth consecutive weekly gain, as markets await the outcome of the upcoming FOMC meeting. Traders are also closely monitoring Trump’s push for an emergency federal appeals court ruling to remove Fed Governor Lisa Cook by Monday (today), just one day before the Fed convenes.
WTI crude oil saw a sharp spike on Friday, climbing to $63.98/bbl, after Ukraine launched a large-scale drone attack on Russia’s energy infrastructure. The strikes targeted the Primorsk oil port, Russia’s largest maritime terminal, forcing a temporary suspension of operations, and also hit the Kirishi oil refinery, one of the country’s two largest. Although prices pulled back from session highs, WTI still ended the week up 1.2% at $62.6/bbl. Today, oil prices are holding steady above $63/bbl, as markets assessed impact of stepped up Ukrainian drone strikes on Russia’s oil facilities. Sentiment is also being shaped by Trump’s renewed calls for Europe to stop buying Russian oil, along with his reiteration that the U.S. is prepared to impose “major” sanctions on Russian crude, but only if NATO allies take coordinated action
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