Mumbai, March 17: Gold and silver prices are experiencing a notable increase ahead of the US Federal Reserve meeting. On Tuesday, both precious metals saw price hikes of up to 1.31%.
As of 9:41 AM on the Multi Commodity Exchange (MCX), the April 2, 2026 contract for gold rose by ₹1,061, or 0.68%, reaching ₹1,56,797 per 10 grams. During trading, gold hit a low of ₹1,56,649 and a high of ₹1,56,996, indicating a bullish trend within a limited range.
On the other hand, the May 5, 2026 contract for silver traded at ₹2,59,885, marking an increase of ₹3,353, or 1.31%. Silver’s trading range saw a low of ₹2,58,338 and a high of ₹2,61,457.
The surge in gold and silver prices is attributed to the upcoming US Fed meeting concerning interest rates. This two-day meeting commenced on March 17, with decisions expected to be announced on March 18. Given the current geopolitical tensions and rising crude oil prices, this Fed meeting is considered crucial.
In recent months, a significant factor for the rise in gold and silver prices has been the reduction in interest rates. If the Fed decides to maintain interest rates or signals inflation due to rising crude oil prices, it could negatively impact gold and silver. Consequently, investors are remaining cautious ahead of this meeting.
The ongoing conflict between Iran, the US, and Israel has led to a more than 50% increase in crude oil prices over the past month.
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Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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