Gold reaches two-week peak before Fed decision
Gold prices rose today to the highest level in two weeks, with the price of an ounce reaching $4,129.43, supported by technical buying and elevated oil prices resulting from escalating tensions in the Middle East. This comes amid investors closely monitoring the Federal Reserve meeting next week for hints regarding interest rate outlooks, amid ongoing concerns about inflation and expectations that interest rates will remain high until the end of 2026. Other precious metals also saw gains, with silver rising to $59.71, and the noble metals platinum and palladium increasing by 1.9% and 2.2%, respectively.
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