Forex
Gold Refuses to Break After Fed Rate Hike
The Federal Reserve's rate hike on September 16, which brought the benchmark interest rate to a target range of 3.75% to 4.00%, was expected to put downward pressure on gold prices. However, instead of falling further, gold rebounded and rose to $4,383.45 an ounce by September 18, up 0.97% from the previous day.
The rebound suggests that investors are still concerned about inflation, fiscal risk, and policy uncertainty, which could lead to higher prices for gold in the future.
J.P. Morgan Global Research is forecasting an average price of $6,000 an ounce for gold in the fourth quarter of 2026, with a possible target of $6,300 in 2027.