Gold Prices Rise as Fed Keeps Interest Rates Unchanged

The price of gold inched up on Thursday, extending gains for a second straight session after the US Federal Reserve kept interest rates unchanged. The move supported bullion demand as investors awaited key US inflation data later in the day.

Spot gold was up 0.2 per cent, or USD 6, at USD 4,071.89 an ounce, while domestic market prices remained largely consistent across major Indian cities. In Delhi and Chennai, 24-carat gold stood at Rs 1,44,310 per 10 grams, while in Mumbai, Kolkata, and Hyderabad it was priced at Rs 1,44,160.

The price of silver also remained unchanged across key markets, with the price standing at Rs 2,349 per 10 grams, Rs 23,490 per 100 grams, and Rs 2,34,900 per kilogram in Delhi, Mumbai, Kolkata, Hyderabad, and Chennai.