Gold Edges Higher as Oil Eases Despite Fed Rate Hike
Gold rises 0.89% to $4,379 as oil prices ease, despite a Fed rate hike that had driven the metal to a two-month low. Key resistance sits at $4,400.
Gold Market
Gold rises 0.89% to $4,379 as oil prices ease, despite a Fed rate hike that had driven the metal to a two-month low. Key resistance sits at $4,400.
MCX gold and silver futures saw mixed moves in early trade on 18 September as a drop in crude oil prices and a steady dollar offered support, while US-Iran tensions kept caution alive.
Gold, silver and crude oil remain in focus as markets digest the latest US Fed rate hike. Analyst Vandana Bharti shares key levels and the outlook through 2026.
Gold prices fell more than 1% after the US Federal Reserve raised interest rates and signalled further increases, pushing the dollar higher and pressuring non-yielding bullion.
Gold prices rose on September 16 supported by a weaker US dollar. Traders awaited the Federal Reserve's policy decision, with markets pricing a 90% chance of a quarter-point rate hike.
Gold and silver prices have stabilised slightly after recent declines, with analysts pointing to oversold conditions and key support levels holding ahead of this week's FOMC meeting.
Commodity markets are volatile as West Asia tensions disrupt supply chains. ICICI Direct's Pankaj Pandey explains the outlook for gold, metals and crude oil, and what it means for stocks.
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.