Gold risks deeper pullback as Fed decision approaches
Gold failed to break above $4,500 and corrected lower, dipping below $4,450 and testing the $4,250 support zone. A bearish trend line at $4,355 is capping near-term gains.
Gold Market
Gold failed to break above $4,500 and corrected lower, dipping below $4,450 and testing the $4,250 support zone. A bearish trend line at $4,355 is capping near-term gains.
Gold and silver prices rose in domestic markets on Wednesday, with MCX gold futures gaining Rs 1,300 per 10 grams and silver climbing Rs 4,000 per kg ahead of the US Fed decision.
Gold trimmed its intraday losses on Tuesday but remained under pressure from a rising US Dollar and multi-year high Treasury yields as markets awaited a widely expected Fed interest rate hike.
Gold trades near $4,300, well below last month's peak, as the Fed prepares a likely rate hike and the US dollar rallies. Market awaits Wednesday's decision.
Gold traded around $4,290 an ounce after falling to a five-week low, as Middle East oil disruptions reinforced expectations of a Federal Reserve rate hike this week.
Gold declined on Tuesday as rising crude oil prices and benchmark Treasury yields near 5% reinforced expectations of elevated interest rates ahead of the Fed's decision.
Spot gold dropped 0.9% to $4,308.24 as traders priced in an 89% chance of a US rate hike this week, following hot inflation data and rising oil prices.
Gold and silver declined on September 14, 2026, as oil prices jumped 4% on Middle East supply concerns and investors weighed the prospect of a US Federal Reserve rate hike.
Gold fell 0.85% on Monday, hitting a one-month low of $4,253, as the 10-year US Treasury yield climbed above 5% for the first time since 2023 and the US Dollar strengthened. Markets await the Federal Reserve's policy decision on Wednesday.