1 month ago

Fed Holds Rates, Gold and Silver Prices Volatile on MCX

Fed Holds Rates, Gold and Silver Prices Volatile on MCX
Gold and silver prices volatile on MCX after the US Fed holds rates steady; focus shifts to PCE, GDP data · livemint.com

The U.S. Federal Reserve decided not to change its interest rates, which made investors nervous.

Because of this, the prices of gold and silver on the Indian market went up and down a lot.

People are also waiting for U.S. inflation data and GDP numbers.

Meanwhile, the U.S. and Iran had a new conflict that made oil prices rise, which can make prices for many things go up.

This can make the Fed think about raising rates again.

Some experts say gold is a good way to protect against rising prices, but it can lose value when rates are high.

Traders are watching key price levels to decide when to buy or sell gold and silver.

Key facts

Fed policy decision
Rates held steady at 3.5%–3.75%
MCX gold price
₹1,41,856 per 10 grams
MCX silver price
₹2,16,376 per kg
US dollar index
≈101
10‑year bond yield
4.68%
Rate hike probability September
63%
Oil price
$90 per barrel

Quotes

Manoj Kumar Jain

Analyst at Prithvifinmart Commodity Research

“"We suggest long-term investors to accumulate gold and silver in every price drop, while traders can hold long positions in gold with a stop loss below ₹1,39,000 and in silver below ₹2,13,000 on a closing basis."”
livemint.com
“"The US Fed policy statement carried a hawkish undertone, with the decision passing by a 9-3 vote, as three Fed officials backed an immediate 25-basis-point rate hike."”
livemint.com

Sources

Related news