Gold price today, Sept. 16 -- Gold rates rose on the MCX Tuesday (September 16) morning, with the focus squarely on the US Federal Reserve's monetary policy decision on Wednesday. The dollar's weakness against its peers and expectations of a 25 bps rate cut by the Fed supported the yellow metal.

MCX Gold October futures were 0.05 per cent up at Rs.1,10,229 per 10 grams around 9:50 am, while MCX Silver December futures were 0.16 per cent higher at Rs.1,29,630 per kg at that time.

The dollar index declined by about 0.10 per cent, making gold slightly cheaper in overseas currencies.

The market has largely discounted the Fed's 25 bps rate cut on September 17 following the stress signals in the jobs market.

The revised jobs data showed the...