Gold Prices Rise Amid Geopolitical Uncertainty

Gold and silver prices rose on September 16 amid escalating tensions in West Asia and a stronger dollar. The rise was also influenced by softer crude oil prices and lower US bond yields.

The Multi Commodity Exchange (MCX) saw significant price gains, with gold futures for October delivery trading at Rs 1,51,598, up Rs 789 or 0.52 percent. December silver futures on MCX gained Rs 2,961 or 1.28 percent, trading at Rs 2,35,079.

Investors were awaiting the Federal Reserve's policy announcement, with experts expecting a 25 basis points interest rate hike. Geopolitical developments continued to influence bullion sentiment, with unresolved tensions between the US and Iran contributing to uncertainty in global markets.