Gold Price Remains Weak Amid Strong Dollar, Rising Oil

The gold price remained weak on Tuesday as investors kept a close eye on several market indicators. The US dollar strengthened, crude oil prices rose to above $108 per barrel, and the Federal Reserve's upcoming decision added uncertainty.

The rise in crude oil prices may fuel inflation concerns, making it harder for investors to predict the Fed's next steps. This environment is not favorable for gold, as it does not generate yield like other assets.

On the Multi Commodity Exchange (MCX), October gold futures were slightly higher at ₹1,51,304 per 10 grams on Tuesday. In contrast, internationally, Comex gold futures fell by 0.24% to around $4,341.50 per ounce in early trading.