Fed Chair Remarks Keep Traders Cautious on Precious Metals

Market participants attributed the subdued gold action and the modest rally in silver to remarks made by the Federal Reserve Chair. In his recent speech, the Chair acknowledged that inflation has eased compared with earlier periods but emphasized that price pressures remain elevated. He offered no clear direction on the upcoming Fed policy meeting, leaving the outlook for interest rates ambiguous.

The lack of decisive guidance prompted investors to tread carefully, resulting in a flat gold contract and a gentle uptick in silver on the MCX. Internationally, the same caution was visible as gold slipped 0.14 % to $4,076 per ounce, whereas silver edged up 0.14 % to $60.59 per ounce.