Business Standard ·
Economy, business and finance
Gold rises ₹1,291 amid Fed rate-hike concerns, silver jumps ₹3,667
In the global market, gold was trading near $4,375 per ounce on Comex, while silver was trading near $65 per ounce
Investors are awaiting the policy decision of the US Federal Reserve. The central bank is expected to raise interest rates by 25 basis points, which may put pressure on gold and silver prices.
However, gold and silver prices opened higher on Wednesday, September 16. In the global market, gold was trading near $4,375 per ounce on Comex, while silver was trading near $65 per ounce.
In the domestic market, gold futures on the Multi Commodity Exchange (MCX) were trading near ₹1,51,750 per 10 gram at the time of writing, while silver futures were trading near ₹2,35,200 per kg.
Gold futures opened higher. On the MCX, the benchmark October gold contract opened ₹1,291 higher at ₹1,52,100 per 10 gram. The previous close was ₹1,50,809.
At the time of writing, the contract was trading ₹976 higher at ₹1,51,785. It touched an intraday high of ₹1,52,100 and a low of ₹1,51,691.