Gold gains 1.31% to $4,384 as Fed rate decision nears
Business
Gold prices just made a noticeable leap, up 1.31% to $4,384 per ounce, because traders are watching the US Federal Reserve's upcoming interest rate decision closely.
Futures for December gold also ticked up, with the chances of a higher rate range nudging from 6.5% to 7.4%, according to Mint.
MCX gold and silver rise
Back home, gold futures on MCX rose 1.03% and silver climbed even more at 1.38%.
This follows global trends, as people keep an eye on US inflation and Middle East tensions that could shake up future Fed policies.
Analysts say most expect a small rate hike already, but everyone's really waiting to hear what the Fed plans next to fight inflation.