Gold Prices Dip Amid Interest Rate Concerns and Cooling Oil Prices

World gold prices decreased slightly on September 23 as investors re-evaluated interest rate outlook after the Fed's new move. The market continues to monitor signals from the US Federal Reserve (Fed) to assess the possibility of interest rates remaining high in the near future.

As of 10:00 AM Vietnam time, spot gold prices decreased by 0.57%, to $4,333.86 per ounce. December gold futures contracts decreased by 0.13%, to $4,370.72 per ounce.

The continued cooling of oil prices is becoming a factor being monitored by the gold market. WTI oil prices have fallen more than 10% compared to the closing level on September 16.

However, interest rate prospects are still a factor putting pressure on gold. The Fed has raised interest rates by another 0.25 percentage points in a meeting last week and signaled that interest rates may continue to be raised in the coming months.