Soaring Energy Prices Spur U.K. to Approve -2-

0757 GMT - Gold prices fall as oil pushes higher, with investors now awaiting next week's Federal Reserve meeting for more cues on the monetary policy outlook. In early European trading, gold futures are down 0.1% to $4,138.90 a troy ounce. The precious metal continues to trade in a tight range, with analysts saying key resistance stands at around $4,230 an ounce. "Treasury yields are pushing higher--marginally--as market anxiety over the inflation outlook builds," analysts at MUFG say. Traders are currently pricing in an 88% probability of a U.S. rate hike in December, according to the CME's FedWatch tool. (giulia.petroni@wsj.com)

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Palm Oil Rises; Ample Supply Could Cap Gains -- Market Talk

0245 GMT - Palm oil rises in Asian trading, tracking stronger soybean oil on the Chicago Board of Trade overnight. Firmness in global vegetable oil and energy markets is expected to support prices, but ample palm oil supplies and near-term profit-taking could cap further gains, AmInvestment Bank says in a note. It expects CPO futures to find support at 4,782 ringgit a ton and face resistance at 4,835 ringgit a ton. The Bursa Malaysia Derivatives contract for January delivery is 12 ringgit higher at 4,829 ringgit a ton. (yingxian.wong@wsj.com)

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Copper Rises, Supported by Tightening Supply -- Market Talk

0220 GMT - Copper is higher in early Asian trading. Prices are supported by tightening supply, as the world's largest copper producer Chile faces its lowest output in 23 years, ANZ research analysts say in a commentary. Chile's finance minister expects copper output to fall 7% this year, with only a minor recovery projected for 2027. Operational issues are also increasing, with at least seven worker fatalities at Chilean mines over the past month, they add. The three-month LME copper contract is 0.2% higher at $14,448.00 a ton. (tracy.qu@wsj.com)

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Gold Falls Amid Pressure From Rising Crude Prices -- Market Talk

0034 GMT - Gold declines in early Asian trade. The precious metal is likely to remain weighed down by higher crude oil prices keeping inflationary pressures in place and reinforcing hawkish monetary-policy expectations, says Bas Kooijman of DHF Capital S.A. in a note. Investors are likely to watch October's Federal Reserve meeting for hints on the U.S. interest rate outlook, he says. "Although the Fed is widely expected to leave rates steady, attention will likely remain on clues regarding another possible increase in December," he adds. A higher interest-rate environment typically drags down the non-interest-yielding yellow metal. Spot gold is down 0.2% at $4,117.90 an ounce.(megan.cheah@wsj.com)

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(END) Dow Jones Newswires

October 21, 2026 12:23 ET (16:23 GMT)