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Gold, Silver Prices Surge on MCX Ahead of US Fed Policy Decision

Guavy AI Editorial Team
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Gold and silver prices rose on the Multi Commodity Exchange (MCX) on Wednesday, September 16, ahead of the US Federal Reserve's policy decision. The MCX gold October futures was up 0.57% at ₹1,51,667 per 10 grams, while the MCX silver December contracts were 1.31% up at ₹2,35,159 per kg around 9:10 AM.

The increase in gold prices can be attributed to a decline in crude oil prices and lower US dollar and 10-year bond yields. The decline in oil prices capped the rise in the dollar index, influencing gold prices.

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