Gold, Silver Prices Flat Amid Dollar, Bond Yield Rise Ahead of Fed Decision

The prices of gold and silver remained largely unchanged on Tuesday as a stronger US dollar and rising bond yields weighed on bullion ahead of the Federal Reserve's monetary policy decision. On the Multi Commodity Exchange (MCX), gold futures for October were trading at Rs 1,52,570 per 10 grams, up 0.01 percent or Rs 18.

However, by 10:36 am, gold prices jumped as much as 0.27 percent or Rs 412 to hit an intraday high of Rs 1,53,000. It recorded an intraday low of Rs 152424, a decrease of 0.10 percent or Rs 164.

Silver futures for December were trading at 2,31,750 per kg, down 0.40 percent or Rs 940. The white metal has recorded an intraday high of Rs 2,32,546, an increase of 0.06 percent or Rs 144. It touched an intraday low of Rs 2,31,612 so far, down Rs 1,078 or 0.46 percent.

According to commodity experts, immediate resistance for gold is at Rs 1,54,000-1,54,700, and a break above targets the next resistance at Rs 1,56,300-1,57,000. On the downside, gold has immediate support at Rs 1,50,700-1,50,000, followed by Rs 1,48,000-1,47,300.