Ahead of US Fed rate hike impact on gold rates prediction: How FOMC outcome will effect yellow metal

Gold prices gained on September 16, supported by a weaker US dollar as traders awaited the Federal Reserve's policy decision. Spot gold rose 1.3% to $4,347.91 per ounce, while US gold futures up 1.3% to $4,388.80 amid rising inflation and expectations of interest rate hikes.