Commodity Corner: Oil prices trade marginally lower, gold heads for weekly loss

Reports coming in for today mention that Commodity markets traded mixed on September 25, with crude prices edging softer as markets weighed hopes of a US-Iran truce against geopolitical tensions, while gold prices ticked elevated but remained on track for a weekly slide.

Crude prices declined slightly on Friday as markets weighed the possibility of a truce between the US and Iran against the bombing of Saudi Arabia by Houthi rebels after a week of price spikes.

Brent was down 0.65%, to $105.85 a barrel, while West Texas Intermediate (WTI) was down 1%, at $93.80 a barrel.

Gold prices ticked up on Friday but were set to post a weekly loss, pressured by a stronger dollar and growing expectations that the The US central bank will keep interest rates elevated to contain inflation.

Spot gold rose 0.2% to $4,288.36 per ounce, but was down 2% so far the current week. US gold futures edged 0.6% elevated to $4,323.10.

Silver was down 0.2% at $63.68 an ounce and on track to end the week almost 4% softer. Platinum and palladium were little changed. All three metals were poised for weekly losses.

The dollar was set for its first back-to-back weekly upside in more than three months on Friday, as surging Treasury yields and mounting bets on further The US central bank rate hikes kept the greenback near multi-month peaks.

Dollar resilience pushed the euro to a two-month low of $1.1370 and put it on track for a third weekly slide, its worst losing streak since the end of 2025. Sterling languished near a three-month low of $1.3220 and was on track for its worst weekly performance in four months.