Gold Prices Rise Amid US Inflation Data Uncertainty

Gold and silver prices moved in opposite directions on the Multi Commodity Exchange (MCX) as investors remained cautious ahead of key US inflation data and the Federal Reserve's upcoming policy decision.

The October gold futures opened lower at Rs 1,53,581 but later recovered to touch an intraday high of Rs 1,54,252. It was trading around Rs 1,54,177, up Rs 414 or 0.27 per cent.

Silver remained volatile during the session, touching a high of Rs 2,44,265 before falling to an intraday low of Rs 2,42,726.

The US Producer Price Index data is due on Thursday, followed by Consumer Price Index data on Friday. The numbers are expected to provide fresh signals about the direction of US monetary policy. Any indication of easing inflation could support expectations of lower interest rates and benefit gold.