New Delhi: Gold and silver prices in India struggled amid a similar trend in global markets as investors remained cautious ahead of the US Fed policy announcement. On MCX, gold futures were up 0.2% to ₹44,917 per 10 gram while silver was flat at ₹66,950 per kg.
Spot gold was little changed at $1,730.82 per ounce, after prices rose to a two-week high of $1,740.90 in the last session. Other precious metals were also under pressure. Silver fell 0.7% to $25.77 while platinum slid 0.5% to $1,206.
Analysts expect the Federal Open Market Committee to hold interest rates near zero and repeat a vow to keep buying bonds at the current $120 billion monthly pace. Later in the day. the panel will release a statement and its forecasts while Fed chief Jerome Powell will also hold a press briefing.
“Gold fell as low as low as $1673.3/ounce last week, the lowest since June 2020, as US dollar index jumped to November 2020 highs