Gold Prices Steady Near $4,300 as Fed Decision Looms

Gold prices hovered near $4,300 an ounce ahead of the Federal Reserve's September policy decision, scheduled for Sept. 15-16, 2026.

Rising Treasury yields and a firm dollar have weighed on bullion, with December futures down 1.2 percent over the week even though they remain 19.2 percent higher than a year earlier.

The Congressional Budget Office estimates that reduced oil and gas shipments through the Strait of Hormuz added 2.3 percentage points to annualized US consumer inflation in the second quarter of 2026, when PCE inflation reached 5.3 percent.

Analysts like Darrell Fletcher of Bannockburn Capital Markets urged caution, saying 'buying high to hope for short-term higher is a tough strategy.'