{
  "id": 8010457,
  "title": "Gold Price Forecast: XAU/USD gains as oil rally eases, upside seems limited amid hawkish Fed bets",
  "url": "https://urgent.news/2026/09/17/gold-price-forecast-xau-usd-gains-as-oil-rally-eases-upside-seems",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-17T10:30:21.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gold-price-forecast-xau-usd-gains-as-oil-rally-eases-upside-seems-limited-amid-hawkish-fed-bets-202609171030"
  },
  "original_language": "en",
  "account": "Gold prices surged by 1.15% to approximately $4,320 during European trading on Thursday. This increase occurred as the rally in oil prices subsided after Saudi Arabia explored alternative methods for transporting energy products. According to a Times of India report, Saudi Arabia offered extra crude shipments to Asian refiners via ship-to-ship transfers off Oman's Sohar port. The report highlights that gold has traditionally exhibited an inverse relationship with oil prices, as higher energy costs undermine inflation expectations, potentially triggering interest rate hikes by global central banks. Moreover, the upside potential for gold seems limited due to the anticipation of additional interest rate hikes by the Federal Reserve (Fed). The Fed raised interest rates by 25 basis points to 3.75%-4.00% on Wednesday, and its dot plot indicated that 16 out of 18 policymakers expect at least one more rate hike this year. The Federal Reserve Chair, Kevin Warsh, did not partake in the dot plot projections. Deutsche Bank strategists noted that the Fed's latest rate hike has led to a notable adjustment on the front end of the US yield curve, with \"money markets moving to price in further tightening, with another 75bps of Fed hikes now priced by June (+10.8bps on the day), and a hike around 50% for the October meeting.\" In the daily chart, XAU/USD is currently trading at $4,314.02, exhibiting a bearish short-term bias as it trades beneath the 20-day exponential moving average (EMA) at $4,364.99. The RSI at 46.39 stands just below neutral, indicating a diminishing upside momentum rather than a strong oversold condition. The immediate resistance level is at the 20-day EMA near $4,365, followed by the September 8 high near $4,443. Conversely, if the gold price breaks below the Wednesday's low of $4,235.40, it could potentially reach the psychological level of $4,000. Gold's historical significance as a store of value, medium of exchange, and safe-haven asset has persisted through millennia, and its current role is primarily as a hedge against inflation and currency depreciation. Central banks are the largest holders of gold, often diversifying their reserves to fortify their economies during turbulent times. In 2022, central banks added 1,136 tonnes of gold, worth approximately $70 billion, to their reserves, marking the highest yearly purchase since records began.",
  "summary": "Gold price (USD) is up 1.15% to near $4,320 during the European trading session on Thursday. The precious metal gains as rally in oil prices cool down after Saudi Arabia mulls alternatives to ship energy products.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Silver Price Forecast: XAG/USD rises to near $64.00 as oil prices decline",
        "url": "https://urgent.news/2026/09/17/silver-price-forecast-xag-usd-rises-to-near-64-00-as-oil-prices",
        "published": "2026-09-17T01:59:02.000Z"
      }
    ]
  },
  "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."
}