Gold Resilient Above $4,300 Amid Fed and BOJ Rate Hikes

Gold prices held above $4,300 despite rate hikes from the Federal Reserve and Bank of Japan. Spot gold rose 0.2% to $4,346.65 per ounce by 0145 GMT on September 18.

The US central bank increased its policy rate for the first time under Chair Kevin Warsh, while the BOJ raised its rate to a 31-year high of 1.25%. A 1% decline in oil prices reduced inflation pressure, and a subdued dollar lowered bullion's cost for non-US buyers.

Goldman Sachs maintained its end-2027 forecast of $5,400 per ounce, indicating that tighter policy may delay gold's rally rather than reverse it.