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Commodities

Gold Prices Steady Amid Rate Hike, Easing Oil Prices

Guavy AI Editorial Team
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Oil Gold
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Gold prices held steady near $4,350 per ounce on September 18, despite a decline in US gold futures. The Federal Reserve's rate hike and easing oil prices have had a mixed impact on the market.

The dollar strengthened against the rupee for the sixth consecutive session, reaching 95.88 amid high Brent crude oil prices. However, easing concerns about supply disruptions in the Middle East provided some support for gold as oil prices declined.

In India, domestic MCX gold futures traded marginally lower on Friday, with a 0.11 percent decline to Rs 1,52,815 per 10 grams. Silver, on the other hand, inched up 0.34 percent to Rs 2,39,008 per kilogram.

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