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Gold Holds at $4,329 as Fed Decision Looms

By Markets Desk · 2026-09-16 · 1 min read
A polished ingot of yellow metal resting on a dark surface
Illustration: Tradingbird

COMEX gold edged down 0.08% to $4,329.30, pressured by a firm dollar and rising US Treasury yields. Silver rose 0.59% to $64.235. Markets await the Federal Reserve's policy decision later in the day.

COMEX gold closed at $4,329.30 per ounce, down $3.50 from the previous session. The metal touched an intraday low of $4,315.20 and a high of $4,339.50. Silver rose 0.59% to $64.235 per ounce, moving against the broader precious metals trend. The divergence reflects specific supply and demand dynamics for the two metals.

Bond yields and dollar weigh on bullion

The US 10-year Treasury yield crossed 5% on Tuesday, marking its highest level since 2007. This rise in yields increased the opportunity cost of holding non-yielding assets like gold. The US dollar index traded near a two-week high, adding further pressure on dollar-denominated metals. Brent crude oil prices remained elevated at $108 per barrel, sustaining inflation concerns.

India sees sharp drop in gold imports

Indian gold imports fell 57.75% year-on-year to $2.3 billion in August. Silver imports jumped 127% to $1.02 billion during the same period. For the April-August period of fiscal year 2026-27, total gold imports rose 3.38% to $17.47 billion. Domestic prices in New Delhi fell to 1.54 lakh rupees per 10 grams, the lowest level in over a month.

Market focus shifts to Fed decision

Investors await the Federal Reserve's policy decision later on Wednesday. The central bank's guidance on interest rates will directly influence the dollar and bond yields. Any shift in the rate outlook could trigger immediate volatility in bullion prices. According to GN auto markets/commodities data, the current stability is temporary pending this key monetary event.

Based on reporting by CNBC TV18, compiled by the Tradingbird desk.

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