Basic Materials Roundup: Market Talk

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1034 ET - Gold futures are lower as the U.S. dollar gains amid higher U.S. interest-rate expectations. "The near-term setup for gold remains challenging," Kaynat Chainwala of Kotak Neo says in a note. "A dollar holding above 100 and October hike odds above 50% represent a structurally negative combination for non-yielding assets, and further hawkish signals ahead of the October meeting could extend the current pressure." Gold for December delivery is off 1.4% in New York at $4,315.20 a troy ounce. Silver is down 2.2% at $65.04 a troy ounce. (anthony.harrup@wsj.com)

2209 ET - Iron ore prices are higher in early Asian trading. Prices are likely to stay rangebound at a relatively low level in the near term, according to Baocheng Futures in a research note. High shipment fees are supporting prices, the analysts say. The black metal meanwhile also faces pressure from weak demand and high supply, the analysts note. The most-traded iron-ore contract on the Dalian Commodity Exchange is 0.6% higher at CNY716.0 a ton.(tracy.qu@wsj.com)

2204 ET - There is a strong floor under gold prices around $3,800/oz, according to BMI, a unit of Fitch Solutions. While the precious metal faces pressure from U.S. dollar strength and "a hawkish turn in U.S. Fed policy," geopolitical risks remain high and central bank purchases of gold continue, it says. BMI reiterates a 2026 average gold-price forecast of $4,400/oz. The price has averaged $4,555/oz year to date, it says. Spot gold is down 0.4% at $4,340.65/oz. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2145 ET - The price of nickel, which recently hit its lowest value since December, shows little sign of a recovery in the coming months, according to Commonwealth Bank of Australia's Vivek Dhar. "With easing ore cost pressure and increased ore quotas, Indonesian production is expected to expand over the remainder of 2026," says Dhar. He says that could shift the market from a small deficit--the International Nickel Study Group forecast an annual market deficit around 30,000 metric tons--toward a surplus and put "a lid on nickel prices over the remainder of 2026." A rise in nickel stocks in London and Shanghai suggests that demand for finished metal is soft, Dhar says. LME 3-month nickel is up 0.3% at $16,675/ton. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

1433 ET - The U.S. clean-energy industry lost nearly 37,000 jobs last year, reversing a four-year period of annual workforce expansion that followed a broader economic recovery from the Covid-19 pandemic, according to E2, a nonpartisan group of business leaders, investors and professionals who advocate for clean energy. The industry recorded job losses across 35 U.S. states and all its largest subsectors--energy efficiency, renewable power and clean vehicles, E2 says. Energy storage and grid modernization, alongside biofuels, were the only subsectors that "posted slight increases in new jobs," E2 adds. California alone lost almost 21,000 jobs, while Florida saw the largest job gains by adding roughly 3,800 positions. Clean energy represents the largest workforce in the U.S. overall energy industry, with about 3.5 million workers, compared with 958,000 in the oil-and-gas sector, according to E2. (luis.garcia@wsj.com; @lhvgarcia)

1410 ET - Gold futures settle modestly lower as the U.S. dollar firms and yields edge up, while finding some support in lower oil prices that if sustained could ease inflation pressures. Front-month gold for September delivery settles down 0.2% in New York at $4,338.90 a troy ounce, while silver gains 0.2% to $65.932 a troy ounce. The precious metals "remain within what appears to be a solid support range," Peter Cardillo of Spartan Capital says in a note. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

September 23, 2026 12:20 ET (16:20 GMT)