Mumbai, April 29: Gold and silver opened strong on Wednesday, showing modest gains ahead of the US Federal Reserve’s decision. Both precious metals traded within a limited range during the session.
On the Multi Commodity Exchange (MCX), the June 5, 2026 gold contract opened at ₹150,720, up by ₹693 or 0.46% from the previous closing of ₹150,027. However, by 9:55 AM, it dipped slightly to ₹150,008, down by ₹19 or 0.01%.
During the trading session, gold reached a low of ₹149,720 and a high of ₹151,527.
The July 3, 2026 silver contract opened at ₹243,589, gaining ₹826 or 0.34% from the last close of ₹242,763. By the time of reporting, silver was at ₹243,475, up by ₹712 or 0.29%.
In the trading session, silver recorded a low of ₹242,972 and a high of ₹243,835.
Internationally, gold and silver also saw upward movements. Gold was trading at $4,616 per ounce, up by 0.19%, while silver rose by 0.81% to $73.81 per ounce.
Experts indicate that the US Fed’s interest rate decision will be announced later tonight. This decision comes amid rising crude oil prices, which pose an inflation risk. If the Fed comments on increasing interest rates, it could negatively impact gold prices, potentially leading to downward pressure in the future.
Due to global instability, gold and silver have provided impressive returns to investors over the past year. During this period, gold has yielded approximately 40% and silver around 120% in dollar terms.
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My name is Ganpat Singh Choughan. I am an experienced content writer with 7 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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