Gold price today, Wednesday, September 16, 2026: Gold holds in the $4,300 range, awaiting the Fed's decision
On Wednesday, September 16, 2026, gold prices remained steady around $4,300 per troy ounce as traders awaited the Federal Reserve's decision on interest rates. The December futures for gold opened at $4,333, rising to $4,389.40 per troy ounce by 6:38 a.m. ET. Investors have been watching the Federal Reserve closely, with a 92.5% probability that the Fed would raise the federal funds rate by 25 basis points, according to the CME Group's FedWatch tool.
This is an increase from the previous 86.5% and 69.4% chances on Monday and Friday, respectively. Higher interest rates can negatively impact precious metals and cryptocurrencies since they do not provide any interest income. The Fed meeting and the potential rate hike were topics of live updates, with anticipation building for the first rate hike in three years.
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