Gold Prices Stabilize Ahead of Federal Reserve Rate Decision

Gold prices steadied on September 15th after reaching their lowest level in over a month. The price of spot gold held firm at $4,300.96 per ounce, while US gold futures slipped 0.3 percent to $4,341.10.

The market is awaiting the Federal Reserve's decision on monetary policy, which is expected to be announced tomorrow, September 16th. The central bank is likely to raise interest rates by a quarter percentage point to between 3.75 and 4.00 percent, following inflation data that showed prices accelerating in the US during August.

Gold was also affected by the increase in the yield on 10-year US Treasury bonds to five percent, as well as rising oil prices and escalating geopolitical tensions.