Today's closing session, Thursday, May 14, 2026, saw marked weakness in precious metals and copper, reversing some of the morning's optimism. Gold (XAU) finished at $4675.10 USD/oz, a decrease of 0.67%, reflecting profit-taking after news regarding the Trump-Xi summit had initially eased geopolitical tensions. Silver (XAG) experienced a sharper decline of 4.93% to $84.97 USD/oz, closely followed by platinum (XPT) which closed 5.34% lower at $2079.90 USD/oz, and palladium (XPD) with a retreat of 4.73% to $1463.00 USD/oz. Copper (HG) was not spared from the bearish trend, losing 1.26% to trade at $6.59 USD/oz.
The day was dominated by the release of inflation data and comments from Federal Reserve members. While the IMF noted that constructive dialogue between the US and China is positive for the global economy, attention shifted towards monetary policy expectations. Statements from Fed member Stephen Miran, who resigned to make way for Warsh's confirmation and cited "deregulation wins," along with comments from another Fed member emphasizing the "importance of central bank independence," generated uncertainty about the future direction of interest rates. The possibility of a "prompt but modest rate hike" to control inflation, suggested by the Bank of England (BoE), also weighed on market sentiment, increasing the opportunity cost of metals for holding positions in metals.
On the corporate front, Cerebras's IPO on Nasdaq, exceeding $100 billion in capitalization, and the news that China will order 200 Boeing aircraft, offered a picture of strength in the technology and aerospace sectors, diverting capital that might otherwise have sought refuge in metals. The Senate's approval of a cryptocurrency regulation bill may also have influenced investment flows.
Closing by Metal
* **Gold (XAU):** Closed at $4675.10 USD/oz (-0.67%). Session high: $4705.50. Session low: $4670.10. The decline is attributed to profit-taking and growing uncertainty over the Fed's monetary policy, despite positive geopolitical news.
* **Silver (XAG):** Closed at $84.97 USD/oz (-4.93%). Session high: $88.50. Session low: $84.50. The sharp fall reflects greater sensitivity to shifts in market sentiment and potential outflows from Gold ETFs and silver.
* **Platinum (XPT):** Closed at $2079.90 USD/oz (-5.34%). Session high: $2180.00. Session low: $2070.00. The weakness aligns with silver, suggesting widespread selling pressure across precious metals.
* **Palladium (XPD):** Closed at $1463.00 USD/oz (-4.73%). Session high: $1520.00. Session low: $1455.00. Palladium, sensitive to industrial demand, also experienced a significant correction.
* **Copper (HG):** Closed at $6.59 USD/oz (-1.26%). Session high: $6.68. Session low: $6.55. Copper showed a more moderate downward trend, influenced by the outlook for a global economic slowdown and the strength of the US dollar.
Driver of the Session
The primary driving force of the closing session was the release of macroeconomic data, particularly those related to inflation, and comments from Federal Reserve members. Stephen Miran's statements on deregulation and the importance of Fed independence fueled speculation about future monetary policy moves, countering the morning's geopolitical optimism and triggering a rotation out of precious metals.
For tomorrow, Friday, May 15, 2026, attention will focus on US and Eurozone industrial production data. Any signs of weakness in these indicators could reinforce concerns about global economic growth and potentially offer support to metals as a safe-haven asset. Monitoring any additional statements from Fed officials and the evolution of the geopolitical situation will also be relevant.
Sources:
* IMF says constructive US-China dialogue, reduced tensions good for world economy
* Fed Governor Stephen Miran resigns, cites deregulation wins
* BoE’s Pill calls for ’prompt but modest’ rate hike to quell inflation pressure
* Cerebras more than doubles in Nasdaq debut, topping $100 billion market cap after blockbuster IPO