Gold jumps ahead of US Fed policy decision - The Express Tribune

AI desk brief

Gold prices in Pakistan rose Rs3,500 per tola to Rs425,636 and silver gained Rs61 per tola even as spot gold eased 0.3% to $4,044.54/oz and December COMEX gold fell 0.4% to $4,057.30/oz ahead of the Fed decision. The market was focused on the Fed’s policy statement, Chair Kevin Warsh’s comments and Thursday’s PCE print for clues on the rate path, with higher oil prices and Middle East supply risks keeping inflation concerns alive.

The Fed later held rates unchanged, matching expectations. The rupee also firmed slightly to 276.77 per dollar, while the dollar stayed near two-week highs ahead of central bank decisions.