Gold Prices Soar Towards $4,400 as Bond Yields Cool Down

World gold prices continued their upward momentum on September 18, reaching nearly $4,400 per ounce. The rise in gold prices was accompanied by increases in silver, platinum, and palladium, with each metal up over 2%.

The price of spot gold rose 1.02% to $4,386.11 per ounce, while December gold futures increased by 0.6% to $4,426.30 per ounce.

The sharp rise in gold prices can be attributed to the decrease in US bond yields following the Federal Reserve's decision on September 16. This decrease has helped alleviate pressure on gold, which is often less attractive when bond yields rise.