Global Gold Ounce Rises to $4,393 as Oil Retreats

According to FXStreet, the global gold ounce rose 1.15 percent to near $4,320 on Thursday, September 17, 2026 (26 Shahrivar 1405), as the rally in oil prices cooled after Saudi Arabia moved to reroute crude cargoes to Asian refiners via ship to ship transfers near Oman's Sohar port. FXStreet, citing Deutsche Bank, reported that the US Federal Reserve's rate hike the same Wednesday, a 0.25 percentage point increase to a range of 3.75 to 4 percent, pushed markets to price in nearly a 50 percent probability of another hike at the October meeting.

The upward move continued into Friday, September 18, 2026 (27 Shahrivar 1405); Trading Economics reported the gold ounce up 1.20 percent from the previous day at $4,393.32, and TGJU recorded a similar figure of $4,393.60, up 1.15 percent, with Trading Economics citing a three session decline in oil prices as the main driver. Other precious metals rose in step: silver gained 2.6 percent to $66.94, platinum rose 2.25 percent to $1,817.80, and palladium rose 3.25 percent to $1,332.50 an ounce.