Forex
Gold Prices Plummet in UK Following Federal Reserve Rate Hike
The Federal Reserve's decision to raise interest rates by 25 basis points on September 16, 2026, had an immediate impact on gold prices in the UK.
The London fix reflected this change, with 24-carat spot gold falling to £3,192 per troy ounce, equivalent to £102.60 per gram, down from £103.48 per gram just a day prior.
This decline is due to the strengthening of the US dollar against sterling following the Fed's announcement, which compressed the pound-denominated gold price even as the dollar spot price held steady around $4,295 per troy ounce.