Gold Rate Edges Up in India Ahead of Fed Decision

The gold market in India is holding steady ahead of the Federal Reserve's rate decision on Wednesday. The 24-karat gold rate rose to ₹15,680 per gram on Tuesday, up ₹14 from the previous session.

This modest recovery is attributed to safe-haven demand returning as markets await the Fed's announcement. However, institutional buyers remain cautious due to uncertainty surrounding the rate decision.

The pre-Navratri season, which typically boosts discretionary jewellery purchases, is also contributing to the mild enthusiasm in the market. Central bank purchases globally continue to provide a structural floor for gold prices, making it less susceptible to individual rate decisions.