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Global Economy · Wednesday, September 16, 2026 · 3 sources

Copper and gold steady as bond yields hit 19-year high ahead of US rate decision

Copper and gold prices held near recent peaks as US Treasury yields surged to 5.04%, the highest since 2007, with traders pricing a 92% chance the Fed will hike rates. The outcome matters for European manufacturers reliant on copper and for eurozone borrowing costs via global bond markets.

Bottom line — European industrial input costs and bond markets brace as traders bet 92% on a Fed rate hike.

Go deeper (6)

  • Copper futures edged higher on the London Metal Exchange but remain well below last week's record, which was fuelled by US tariff-driven supply fears, per Bloomberg.
  • Gold traded around €3,970 (US$4,290) an ounce, according to The Business Times, with a 92% chance of a Fed rate hike priced in.
  • The 10-year US Treasury yield hit 5.04%, the highest since 2007, as reported by The Economic Times, driven by energy prices and capital investment.
  • OCBC strategist Christopher Wong said gold could fall to €3,700 (US$4,000) if the Fed keeps the door open to further tightening.
  • Copper's earlier rally was driven by bets on a US tariff-driven supply squeeze, Bloomberg notes.
  • Higher borrowing costs are typically negative for gold, which does not pay interest, according to The Business Times.

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dstld. Your daily news summary designed to surface the news that matters from a European perspective. Curated by humans, summarized by AI - always with links back to the original reporting.

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Last generated: Sep 16, 10:24 AM UTC by wreetco wreetco

dstld. Your daily news summary designed to surface the news that matters from a European perspective. Curated by humans, summarized by AI - always with links back to the original reporting.

Links · Contact
Popular topics · WorldEuropeGamesAI
Last generated: Sep 16, 10:24 AM UTC by wreetco wreetco