Gold Prices Rebound as Fed Hikes Interest Rates

World gold prices regained momentum on September 17 after adjusting to new signals from the Federal Reserve. The Fed raised interest rates on September 16, and officials signaled a possible increase in future rate hikes.

The spot gold price rose by 0.60% to $4,289.78 per ounce, while December gold futures fell by 1.46% to $4,323.59 per ounce. The recovery was attributed to the cooling of oil prices, which may support gold in the medium term.

The Fed's decision and oil price movements have created a mixed market for precious metals. Spot silver price increased by 0.76% to $63.48 per ounce, platinum rose by 1.48% to $1,781.59 per ounce, and palladium gained 1.61% to $1,296.33 per ounce.