At the morning open on Wednesday Sep 23, Shanghai Gold Exchange Gold T+D rose 0.5% to 940.0 yuan/gram; Shanghai Gold Exchange Silver T+D rose 1.74% to 16,297.0 yuan/kg.

Copper eased from near-record highs as traders reevaluated the US rate outlook amid oil price swings and hawkish Fed comments. LME copper fell as much as 0.8% on Wednesday, snapping a six-day advance. Several Fed officials voiced concern about inflation—Richmond Fed's Barkin said inflation shocks may take time to fade and others signaled possible further tightening. A stronger dollar on rising bets of tighter Fed policy weighed on dollar-priced metals. Nickel slid 0.3%, giving back part of Tuesday's 1.9% gain after drought-related water shortages forced smelters at Indonesia's Morowali processing hub to cut nickel pig iron output.

US Secretary of State Rubio said the US wants an end to the Russia-Ukraine conflict and that it would be "a good idea" for Ukraine and Russia to stop attacking energy infrastructure. He said the ideal outcome is neither side targets energy facilities. Rubio added Ukrainian strikes on certain vessels may not have been intentional, but Washington is concerned about ships linked to the US becoming targets. He attributed oil price rises to the situation in Yemen and the Ukraine conflict.