Gold, Silver Trade Mixed Ahead of US Inflation Data and Fed Decision
Market players are cautious ahead of US inflation data and the Federal Reserve's policy decision. Gold futures on the Multi Commodity Exchange (MCX) opened at Rs 1,53,581, a decrease of 0.11 per cent or Rs 182. However, it later jumped as much as 0.31 per cent or Rs 489 to hit an intraday high of Rs 1,54,252.
The white metal, silver futures, traded 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.
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.