London:Gold prices increased by approximately one percent, bolstered by a decline in oil prices as investors anticipate the upcoming US Federal Reserve monetary policy meeting for insights on future interest rate directions.

According to Qatar News Agency, spot gold rose one percent to USD 4,055.14 per ounce after reaching a session low of USD 3,987.14. In addition, US gold futures for December delivery climbed by 0.9 percent, reaching USD 4,074.60 per ounce.

In the precious metals market, spot silver saw a 0.5 percent increase to USD 54.20 per ounce, rebounding from its lowest level in almost a year. Platinum also rose by 0.3 percent to USD 1,530.75, while palladium decreased by 2.1 percent to USD 1,027.67, after hitting its lowest level since June 2025 earlier in the session.