Spot gold prices rose by approximately 0.7% on September 16, 2026, trading between $4,324 and $4,328 per ounce, with intraday peaks reaching $4,384. Futures contracts also increased by about 0.8% to $4,365.
The market anticipates a 25-basis-point interest rate hike by the Federal Reserve, with the CME FedWatch Tool estimating a 92% to 93% probability for this outcome. Investors are focused on the upcoming press conference by Fed Chair Kevin Warsh.
Gold previously hit a monthly low between September 14 and 15, pressured by a stronger dollar, high Treasury yields, and oil prices exceeding $108 per barrel. The recent recovery follows a decline in both the dollar and Brent crude prices.
Gold currently trades within a 2026 range of $4,200 to $4,700 per ounce. Future price direction remains dependent on the Federal Reserve's guidance regarding potential additional tightening measures.
