Gold and Silver Rates Mixed in Markets as Investors Await US Federal Reserve Decision

Precious metals saw a mixed trend across domestic and international markets on Monday amid tensions in the Middle East and rising crude oil prices, while investors closely watched the policy decision of the US Federal Reserve. According to data from the India Bullion Jewellers Association, the price of 24-carat gold rose by 80 rupees to reach 1,41,710 rupees per 10 grams. Prices for 22-carat gold moved up to 1,29,806 rupees, while 18-carat gold touched 1,06,283 rupees per 10 grams. Silver prices also saw a minor increase of 64 rupees, reaching 1,94,479 rupees per kilogram. In the national capital, 24-carat gold went up by 200 rupees to 1,46,300 rupees per 10 grams due to global improvements and a weak rupee. Local traders noted that the rupee dropped by 29 paise against the US dollar to close at 95.22, which made imported gold more expensive. Meanwhile, silver remained steady at 2,02,000 rupees per kilogram in Delhi after three sessions of decline. On the Multi Commodity Exchange, silver prices fell to 1,91,400 rupees per kilogram on Tuesday, marking a ten-month low and dropping 4,000 rupees in a single day. Globally, COMEX gold rose 0.57 percent to 4,030 dollars per ounce, and silver increased 0.26 percent to 54.09 dollars per ounce. HDFC Securities senior commodities analyst Soumil Gandhi stated that support came from global market improvements, lower crude oil prices, and a drop in US bond yields. Mirae Asset Sharekhan's Praveen Singh noted that spot gold showed a minor rise amid diplomatic talks and potential military options between the US and Iran. LKP Securities vice president Jatin Trivedi added that gold on COMEX could trade between 3,950 and 4,100 dollars per ounce ahead of the Fed's decision, amid inflation worries and US election uncertainty. AajTak reported that silver prices have dropped significantly from January highs of 4.21 लाख rupees per kilogram, prompting experts to suggest staggered investments through SIP formats or digital silver for long-term buyers.

Context

Precious metals like gold and silver often move based on international currency values, central bank interest rate decisions, and geopolitical tensions. When the US dollar strengthens or global economic uncertainty rises, investors frequently shift their focus between safe-haven assets and government bonds. Market analysts track these global markers closely to understand short-term price shifts in local bullion markets.