Gold prices remain stable as investors wait for the Fed's interest rate decision

World gold prices remained stable in the trading session on Monday as investors awaited the widely predicted interest rate cut by the US Federal Reserve (FED) this week, while profit-taking and stronger USD have limited their increase.

At 5:00 p.m. on September 15 (Vietnam time), the spot gold price stood at $3,637.5 an ounce. The precious metal rose about 1.6% last week to a record high of $3,673.95 an ounce on Tuesday. The price of US gold futures for December delivery decreased by 0.2%, to 3,680.2 USD/ounce.

Mr. Tim Waterer - Market Analyst of KCM Trade - said that profit-taking and a stronger USD are putting pressure on gold. The upward outlook remains maintained; however, a period of accumulation or slight adjustment can be seen as positive, supporting golds higher price target in the coming period, he said.

The USD index increased by 0.1%, making gold priced in greenback more expensive for overseas buyers. US inflation data for August was slightly higher than expected on Thursday, but investors predict this will not deter the Fed from cutting interest rates by 0.25 percentage points on Wednesday.

The risk for gold this week is that the Fed may not give a clear signal about when the next interest rate cut will be, Mr. Waterer added.

Gold - a non-yielding safe haven asset is often benefited in a low interest rate environment. The Fed's meeting comes amid many challenges, including legal disputes over the board and US President Donald Trump's efforts to increase the influence on interest rate policy and the broader role of central banks.

While we see the risk for the $4,000/ounce forecast in mid-2026 leaning towards upside, increasing speculative positions also increases the risk of short-term correction, as positions typically return to normal, said Goldman Sachs in a report on Friday.

According to data, speculators have reduced their net buying positions of 2,445 contracts, down to 166,417 contracts in the week ended September 9.

In other precious metals, spot silver rose 0.1% to $42.20 an ounce, platinum rose 0.5% to $1,397.59/ounce, and palladium rose 0.2% to $1,197.88/ounce.