Mumbai, March 18: Ahead of the US Federal Reserve’s decision, gold and silver prices have weakened in Wednesday’s trading session. Gold prices dropped by approximately 0.32%, while silver saw a decline of 0.93%.
As of 9:46 AM on the Multi Commodity Exchange (MCX), gold for the April 2, 2026 contract fell by ₹485, bringing the price down to ₹1,55,500. During the trading session, gold reached a low of ₹1,55,401 and a high of ₹1,55,788.
Silver prices are experiencing a more significant decline compared to gold. For the May 5, 2026 contract on the MCX, silver fell by ₹2,363, or 0.93%, settling at ₹2,50,750. In the current trading, silver touched a low of ₹2,50,181 and a high of ₹2,51,639.
Internationally, both gold and silver are also witnessing a drop. As of the time of writing, gold prices on COMEX have decreased by 0.27%, falling below $5,000 per ounce to $4,994 per ounce. Silver has dropped by 1.45%, hovering around $78.745 per ounce, below $80 per ounce.
The US Fed’s two-day meeting to review interest rates commenced on March 17, with a decision expected today. This meeting is crucial as rising crude oil prices pose an inflation risk. The Fed’s comments on interest rates will significantly influence the future direction of bullion prices.
The ongoing Iran-Israel conflict has led to a more than 50% increase in crude oil prices over the past month, raising concerns about global inflation.
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My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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