Gold Prices Rise Rs 700/10 Gram; Silver Gains Rs 1,500/kg Ahead of US Fed Meet. Key Levels to Track Today
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6 Articles
The Economic Times
Times of IndiaGold prices rise Rs 700/10 gram; silver gains Rs 1,500/kg ahead of US Fed meet. Key levels to track today
Gold and silver prices rose on the MCX as easing oil prices tempered inflation concerns ahead of the US Federal Reserves October 27-28 meeting. Investors will track the Feds rate decision, geopolitical developments and the dollars movement. Analysts expect volatility, with key support and resistance levels outlined for both precious metals.
Oil's decline eases inflation concerns ahead of Fed.
The development came as falling oil prices eased inflation concerns ahead of the Fed meeting.
The global price of gold rose 0.18% to more than $4,000 per ounce in Monday trading; falling oil prices and expectations for the Federal Reserve's interest rate decision are among the factors affecting the market.
The price of gold rose during today's Monday dealings, with falling oil prices calming inflation concerns, while investors await the Fed's monetary policy decision later this week. The dollar index - which measures the performance of the United States currency against a basket of six major currencies - declined by 0.15% to trade at 101.66 points.
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