Gold rate today eases ahead of US Fed meeting; Silver continues to shine. Is it right time to invest?

Gold price today: Gold rates on MCX in intraday trade on Monday, September 15, eased down, meanwhile, silver continued to rise as investors awaited the upcoming U.S. Federal Reserve meeting, where a rate cut is widely expected after a string of weak labor market data.

MCX Gold October futures traded 0.06 per cent down at ₹1,09,308 per 10 grams around 9:18 am, while MCX Silver December futures were marginally up at ₹1,28,983 per kg at that time. MCX Gold had touched a record high of ₹1,09,840 per 10 grams on September 9.

On the international front, spot gold slipped 0.2 per cent to $3,633.86 per ounce today, Monday. Last week, the metal gained around 1.6 per cent, hitting an all-time high of $3,673.95 on Tuesday, last week.

The U.S. dollar index inched up 0.1 per cent, making dollar-denominated bullion costlier for overseas buyers.

Inflation figures released last Thursday came in slightly above estimates, but markets expect this will not prevent the Fed from delivering the anticipated quarter-point rate cut on Wednesday.

The policy meeting also comes against the backdrop of hurdles, including a legal tussle over the Fed’s leadership and the ongoing process of confirming U.S. President Donald Trump’s nominee to its Board of Governors.

According to Sugandha Sachdeva, Founder of SS WealthStreet, Bullion markets will be highly sensitive to the outcome of the US Fed meeting. While a 25 bps cut is largely priced in, any surprise move—such as a 50 bps reduction, possibly influenced by political pressure from President Trump—could trigger sharp volatility, she said.

Sachdeva further said, “ On the technical front, gold has firm support at ₹1,05,800 per 10 gms, with resistance seen near ₹1,12,000 per 10gms mark in the near-term. Silver having soared to new highs of ₹1,29,392/kg and looks poised to extend gains towards ₹1,31,000/kg in the near-term, with key support placed at ₹1,23,500/kg.”

Meanwhile, Jigar Trivedi, Senior Research Analyst at Reliance Securities, expects the gold prices to stay range bound and the outlook remains mixed.

“ Gold prices hold levels near a record high, as investors awaited a crucial US Federal Reserve policy decision later this week. Traders are pricing in a 25 bps Fed rate cut amid signs of labor market weakness, with some expecting that easing could extend into next year. Market participants are also closely watching the US–China negotiations in Madrid, which started on Sunday. MCX gold price for October futures may stay in a range from ₹108,000 to ₹110,000 per 10 grams,” Trivedi said.

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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