Gold Prices Rise as Investors Await US Federal Reserve Policy Decision
Gold and silver prices rose in India's domestic futures market on September 16 as investors awaited the US Federal Reserve's policy decision. On the Multi Commodity Exchange (MCX), October gold futures increased by around 0.57 per cent to ₹1,51,667 per 10 grams in early trade.
December silver contracts gained 1.31 per cent to ₹2,35,159 per kg. The movement in precious metals came as crude oil prices eased and US bond yields softened, providing some support to gold despite a stronger dollar and uncertainty over the global interest-rate outlook.
The Federal Reserve's policy decision is expected to have a significant impact on the direction of US interest rates, with market expectations centered on a possible 25-basis-point rate adjustment. The Fed's guidance on future policy will also be crucial for financial and commodity markets.