Gold Prices Rise Amid Fed Expectations

Gold prices rose by 0.86 per cent on a weekly basis due to expectations that the US Federal Reserve will maintain its status quo. This decision is based on weaker-than-expected US economic data, which has reinforced the notion that interest rates will remain unchanged.

The MCX gold futures (October) gained 0.73 per cent and stood at Rs 154,590, while the MCX silver futures (September) advanced 0.15 per cent and stood at Rs 2,36,272 per kg.