Gold rates and silver rates in India gained on September 16, 2026 due to surge in demand. Ahead Of Fed Policy, MCX crude oil price plunged 3%, while MCX silver emerged as top gainer with over 1.5% rally. Gold, natural gas, copper and zinc gained by 1% each. While lead and cardamom futures also picked up.

In the global market, spot gold rallied nearly 1% to trade above $4,326 per ounce and spot silver surged nearly 1.4% to trade near $65 per ounce. Meanwhile, US WTI crude oil price dropped by 1% to trade around $105 per barrel and Brent crude slipped 0.5% to trade around $108 per barrel.

Market is predicting Fed’s first rate hike in 3 years.

The central bank is widely expected to raise interest rates by 25 basis points, marking its first increase in around three years as policymakers seek to contain inflationary pressures. Traders will also look for guidance on another potential rate hike later this year, with expectations growing for a move in October or December. The Bank of Japan is also expected to raise borrowing costs this week, while the Bank of England is likely to keep policy unchanged. Meanwhile, gold prices faced additional pressure from surging energy costs that are fueling inflation concerns amid widening supply disruptions in the Middle East. Higher bond yields also weighed on non-yielding metals, with the US 10-year Treasury yield climbing to its highest level since 2007, as per Trading Economics.