Sterling Strength Dents UK Gold Price as Dollar Retreats

The gold price in the UK on September 18, 2026 was £104.80 per gram for 24K gold, according to the LBMA benchmark reference.

This is a slight pullback from Thursday's high of £105.17 per gram, as sterling strengthened against a dollar that retreated after the Federal Reserve's rate hike decision on Wednesday.

The Fed raised its target rate by 25 basis points, lifting the federal funds range to 3.75-4.00 percent, but traders concluded the guidance language signaled caution about a December follow-up, leading to a decrease in dollar strength and a slight dip in gold prices in sterling terms.

However, in dollar terms, spot gold briefly crossed $4,439 during the session, reaching its strongest level in seven days.