Gold and silver were trading steadily on Wednesday in anticipation of the US Federal Reserve’s interest rate announcement. On the Multi Commodity Exchange (MCX), gold contracts for June 5 started at Rs 1,50,720 per 10 grams, showing a slight increase. However, gold prices later dipped marginally to Rs 1,49,971 by 11:30 am.
In contrast, silver contracts for July 3 opened higher at Rs 2,43,589 per kg on the MCX. As of the latest update, silver was trading at Rs 2,38,738, reflecting a rise in price. The session saw silver fluctuating between a low of Rs 2,37,607 and a high of Rs 2,38,750.
Internationally, both gold and silver prices were slightly positive. COMEX gold was at $1,616 per ounce, up 0.19%, while COMEX silver stood at $73.81 per ounce, showing a gain of 0.81%.
A market expert noted that MCX gold is encountering resistance around Rs 1,50,000–Rs 1,51,000 levels, suggesting limited upward movement without sustained levels above these marks. Similarly, for silver, immediate resistance is observed in the Rs 2,44,000–Rs 2,46,000 range, with the expert emphasizing caution due to global uncertainties.
