[SMM Precious Metals Express]

Published: Jul 30, 2026 09:10

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During yesterday's night session, NYMEX platinum and palladium retreated after a rapid rise. The US Fed kept interest rates unchanged at 3.50-3.75%, marking the fifth consecutive meeting of holding steady, with a vote of 9 to 3. Three regional Fed presidents voted for a 25-basis-point rate hike, the first time since 2016 that there were three dissenting votes in the same direction. The precious metals sector rose in response. However, at the subsequent press conference, Warsh reiterated at the beginning that the Fed is firmly committed to achieving its 2% YoY inflation target, and the Committee will unwaveringly achieve price stability. His firm anti-inflation stance then put pressure on precious metals prices.

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