Gold and Silver Prices Show Mixed Trends Ahead of US Inflation Data

Gold and silver prices showed mixed trends in Thursday's morning trade on the Multi Commodity Exchange (MCX) as investors exercised caution ahead of US inflation data and the Federal Reserve's policy decision.

Gold futures (October) opened at Rs 1,53,581, a decrease of 0.11 per cent or Rs 182. However, it later jumped by 0.31 per cent or Rs 489 to hit an intraday high of Rs 1,54,252. At the last count, it was trading at Rs 1,54177, an increase of 0.27 per cent or Rs 414.

On the other hand, silver futures (December) were trading at an intraday high of Rs 2,44,265, up 0.02 per cent or Rs 52. However, it declined as much as 0.60 per cent or Rs 1,487 to hit an intraday low of Rs 2,42,726 so far.

Analysts said MCX gold was trading largely flat and remained capped below its 20-day exponential moving average and immediate resistance. Immediate resistance for gold is seen at Rs 1,54,000-1,54,700, with a sustained break potentially taking prices towards Rs 1,56,300-1,57,000.