{
  "id": 7724719,
  "title": "Gold prices today: Yellow metal inches higher ahead of Fed decision",
  "url": "https://urgent.news/2026/09/16/gold-prices-today-yellow-metal-inches-higher-ahead-of-fed-decision",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T05:30:18.000Z",
  "source": {
    "name": "Gulf News",
    "slug": "gulf-news",
    "url": "https://gulfnews.com/business/retail/gold-prices-today-yellow-metal-inches-higher-ahead-of-fed-decision-1.500676264"
  },
  "original_language": "en",
  "account": "Gold prices in Dubai edged higher on Wednesday, as oil prices remained elevated and inflation concerns persisted ahead of the Federal Reserve's upcoming policy decision. Compared to the previous day, 24-karat gold was trading at Dh521.25 per gram, representing a Dh3.75 increase overnight. 22-karat gold also showed strength, trading at Dh482.50 per gram. Throughout September, gold has declined over 3% after reaching above $4,700 an ounce in late August. Currently, gold is hovering around $4,326.82, marking a rise of 30 odd points since the previous trading session. Oil price volatility, driven by uncertainty surrounding the East-West pipeline's status since Saudi Arabia's attacks, contributes to higher bond yields, which in turn put downward pressure on gold's price. Investors are anticipating a high probability of a Federal Reserve rate hike, with Fed Chair Kevin Warsh expected to pursue tighter monetary policy to combat inflation. Strategist Christopher Wong suggests that should the Federal Reserve proceed with further rate hikes, gold prices could face downward pressure, potentially testing the $4,000 an ounce level. Oil prices have stabilized following a two-day surge, influenced by uncertainty over the pipeline's operational status and the limited options available to bring the market back into equilibrium. As a traditional safe haven asset, gold continues to be a favored hedge for investors, and silver also showed gains, up 1.93% on Wednesday. Platinum and palladium experienced slight declines, with 0.2% and 0.1% drops, respectively. The Bloomberg Dollar Spot Index, which gauges the US dollar's strength, saw a marginal 0.1% increase following a 0.6% gain over the past two days.",
  "summary": "Gold prices are inching upwards on Wednesday as high oil prices continue to fuel inflation concerns and as interest-rate hike bets are near-certain ahead of the Federal Reserve’s policy decision. Get it: Fast, verified news for FREE ... download the Gulf News app — simply click here In the UAE, 24-karat gold is trading at Dh521.25 per gram, an increase of Dh3.75 overnight. While 22-karat gold is…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}