2 hrs ago
Gold Rebounds as Silver Slips Ahead of US Fed Decision
Gold and silver prices moved in different directions on Thursday.
Gold first fell slightly but later recovered.
Silver rose briefly before losing value.
Investors are waiting for important US inflation reports.
These reports may help show what the Federal Reserve will do with interest rates.
Many experts expect the Federal Reserve to keep rates unchanged at its September meeting.
A weaker US dollar helped support gold demand.
Silver remained under pressure near important price levels.
Oil prices also increased because of tensions in the Middle East.
October gold futures recovered to Rs 1,54,177 per 10 grams after opening lower on the Multi Commodity Exchange.
December silver futures fell about 0.52 percent to trade near Rs 2,43,000 per kg.
Gold gained support from a softer dollar, while international silver prices declined.
Investors are awaiting US producer inflation data, consumer inflation figures and the Federal Reserve’s September policy decision.
Crude oil prices rose as Middle East tensions continued, with Brent moving above USD 100 a barrel.
- Who
- Gold and silver traders, investors, and the Federal Reserve are central to the update.
- What
- Gold recovered while silver declined as markets awaited US inflation data and the Federal Reserve’s policy decision.
- Where
- Prices were reported on the Multi Commodity Exchange in Mumbai, with international prices tracked on COMEX.
- When
- Thursday morning; the Federal Reserve meeting is scheduled for September 15–16, with US producer inflation due Thursday and consumer inflation due Friday.
- Why
- Investors were avoiding aggressive positions while waiting for US economic data and signals about the Federal Reserve’s interest-rate path.
Key facts
- Gold price
- Rs 1,54,177 per 10 grams at 11 am
- Silver price
- Near Rs 2,43,000 per kg
- COMEX gold
- Up 0.27 percent to USD 4,472.60 an ounce
- COMEX silver
- Down 0.29 percent to USD 68.44 an ounce
- Gold resistance
- Rs 1,54,000–Rs 1,54,700
- Silver support
- Rs 2,42,000–Rs 2,41,000
- Brent crude
- Up 0.68 percent to USD 101.90 a barrel
Sources
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