Gold Prices Steady at $4,350/oz as Dollar Strengthens Amid Rate Hike
Gold prices held steady at around $4,350 per ounce on September 18, despite the US Federal Reserve's rate hike. The gold futures market also saw a decline of 0.28%, with prices hovering just above $4,387 per ounce.
The domestic spot gold closed at Rs 1,51,165 per 10 grams and silver at Rs 2,29,230 per kilogram on Thursday. Meanwhile, the dollar strengthened against the rupee for the sixth consecutive session, with Brent crude oil prices edging lower by 1.29% to $104.47 per barrel.
Analysts believe that gold's near-term direction will depend on how the dollar, Treasury yields, and market expectations for future Fed policy evolve. With easing concerns about supply disruptions in the Middle East providing some support for gold, prices may fluctuate in the coming days.