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Commodities

Gold Edges Higher Amid Weaker Dollar and Falling Oil Prices

Guavy AI Editorial Team
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Oil Gold
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Gold prices edged higher on Thursday, September 18, as oil prices fell for a third straight day and the dollar remained subdued. Spot gold rose by 0.3% to $4,355.05 per ounce at 0423 GMT.

US gold futures dipped slightly, down 0.1%, to $4,394.10. The link between gold and oil may weaken if oil prices correct sharply, according to research strategist Ahmad Assiri of Pepperstone.

The Federal Reserve raised interest rates on Wednesday and signaled more hikes in the coming months. Goldman Sachs maintained its end-2027 gold price forecast at $5,400, despite the rate increase, stating that tighter policy will likely slow gold's rally but not derail it.

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