Gold price falls before big U.S. rate decision

Gold price for buying right now dropped 1.2% to $4,240.1 by 3:10 p.m. ET after reaching $4,365.57 on September 16, Reuters reported. Gold pays no regular cash like savings interest, so when U.S. borrowing costs look higher, interest-paying bonds appeal more. In my view, worry about rates beat out fear-buying before the Federal Reserve's decision.