Gold Prices in India Show Mixed Trends Ahead of US Inflation Data
Gold and silver prices showed mixed trends on Thursday morning in India, reflecting market caution ahead of crucial US inflation data and the Federal Reserve's policy announcement.
On the Multi Commodity Exchange (MCX), gold futures for October delivery opened at Rs 1,53,581, down 0.11 percent or Rs 182.
However, by 11 am, gold climbed by as much as 0.31 percent or Rs 489 to an intraday high of Rs 1,54,252 and last traded at Rs 1,54,177, up 0.27 percent or Rs 414.
In contrast, silver futures for December delivery hit an intraday high of Rs 2,44,265, a marginal gain of 0.02 percent or Rs 52, but also fell as much as 0.60 percent or Rs 1,487 to an intraday low of Rs 2,42,726.
Analysts noted that MCX gold remained capped below its 20-day exponential moving average and immediate resistance levels, trading mostly flat.