Growth and interest rate anxiety in the markets: Silver and gold fell

Selling pressure dominated the commodity market this week due to "hawkish" expectations regarding the monetary policy of the US Federal Reserve (Fed) and concerns about global growth. This week, silver saw its lowest level in 3 months at $55.4 per ounce and platinum at $1598.20 per ounce, while palladium fell to its lowest level since August 2025 at $1092 per ounce.

HOW WERE PRECIOUS METALS PRICED DURING THE WEEK?

High inflation in the US has strengthened views that the Fed should keep borrowing costs longer. This situation caused selling pressure in the commodity market, especially industrial metals.

Although expectations that the Fed will not raise interest rates this month remain strong, "hawkish" expectations regarding future meetings remain high, triggering concerns about demand in the commodity market.

With these developments, prices on an ounce basis in precious metals decreased by 6.3 percent for silver, 3.4 percent for platinum, 3.2 percent for palladium and 0.7 percent for gold.

Silver hit its lowest level in 3 months at $55.4 per ounce and platinum at $1598.20 per ounce. An ounce of palladium fell to its lowest level since August 2025 at $1092.

As for base metals, prices in the over-the-counter market this week fell by 2.3 percent in aluminum and zinc, 2.2 percent in nickel, 2.1 percent in copper and 0.2 percent in lead.

BOND INTEREST RATES WERE WITHDRAWLED

Despite the decline in bond interest rates and the decline in the dollar index, predictions that the Fed will continue its tight monetary policy caused gold prices to close the week with a decline.

Predictions that the demand for traditional automobiles will decrease also contributed to the decline in platinum and palladium prices.

Predictions that jewelry demand in China will decrease were also among the reasons that triggered the decline in platinum prices.

Concerns about global growth caused a decline in copper and silver prices.

The decrease in supply-side concerns also put downward pressure on the copper market. The preliminary agreement reached with workers at the giant Escondida copper mine in Chile is expected to prevent a possible strike.

While the increase in aluminum production in Indonesia caused supply concerns to ease, aluminum prices decreased with this development.

The decline in demand in the global stainless steel industry also dragged nickel prices down.

A mixed trend was observed in the energy group this week.

The barrel price of December delivery Brent oil completed the week with an increase of 4.75 percent. The continuation of conflicts in the Middle East caused continued concerns about oil supply and increased oil prices.

The price of natural gas traded on the New York Stock Exchange in British thermal units decreased by 3.2 percent this week. The expectation that the weather temperatures will be mild in the USA and the high level of natural gas stocks in the country decreased the prices.

A SEEKING FOR DIRECTION WAS OBSERVED IN THE AGRICULTURE GROUP

This week, prices per bushel on the Chicago Mercantile Exchange decreased 2.4 percent for soybeans, 1.7 percent for wheat and 1.2 percent for corn, while they increased 2.2 percent for rice.

In the United States, Intercontinental Exchange prices in pound terms increased by 6.5 percent for coffee and 3 percent for sugar, while cotton decreased by 0.7 percent.

The price per ton of cocoa increased by 0.4 percent.

The increase in Russia's wheat supply caused prices to fall. The increase in corn harvest in the USA negatively affected corn prices.

The acceleration of the soybean harvest in the USA and the high level of stocks in the country put pressure on soybean prices.

The strengthening of India's currency, the rupee, against the dollar and the decrease in rice supply due to climatic factors caused an increase in rice prices.

There were sharp increases in coffee and sugar prices this week, with predictions that the El Nino weather event could suppress Brazil's coffee and sugar production.

The increase in cocoa grinding amounts in Europe and Asia also reveals that the demand for cocoa is increasing.