Gold Prices Plummet as USD Strengthens and Oil Prices Rise

World gold prices took a hit on September 15, falling under pressure from a strengthening US dollar and rising oil prices. The market is waiting for the Federal Reserve's policy decision, expected to raise interest rates by another 0.25 percentage points.

As of 2:30 PM Vietnam time, spot gold price decreased by 0.22% to $4,289.49 per ounce, while December gold futures price fell by 0.53% to $4,328.92 per ounce.

The USD's strength made gold less attractive to buyers holding other currencies, while rising oil prices added to the pressure on precious metals. Oil prices rose about 4% in the session of September 14, increasing concerns about energy price pressure.