Fed Decision, Crude Oil Prices to Drive Gold and Silver Volatility This Week

Gold and silver prices are expected to remain volatile this week due to several key drivers. The US Federal Reserve's interest rate decision, movements in crude oil prices, the US dollar, and new developments in the US-Iran conflict will be major factors influencing the bullion market.

The Federal Open Market Committee meeting on September 15-16 is a crucial global event for the bullion market. Fed policy and Chairman Kevin Ward's comments are likely to set the direction for precious metals, with gold remaining highly sensitive to these factors.

Jateen Trivedi, VP Research Analyst at LKP Securities, noted that any decline in crude oil prices or a change in the US Federal Reserve's hawkish stance could support a gold recovery. However, a rebound in crude oil prices or signs of tightening policy could trigger fresh selling.