Gold climbs ahead of Fed rate decision

A slight increase in gold prices is attributed to a decline in oil prices and investors awaiting the Federal Reserve's decision on interest rate hikes, with a 92.4% probability of at least a 25 basis point increase. The yellow metal has faced difficulty in recovering despite reaching its lowest level in over a month, amid political risks and American financial concerns. Analysts have indicated that the Fed's firm stance could exert downward pressure on prices, while signs of a less aggressive approach might support a recovery. Markets are also monitoring developments in the Middle East. Meanwhile, oil prices declined after an unexpected rise in U.S. crude inventory and Saudi Arabia's halt of exports from Yanbu.

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