In a market holding its breath for the US Federal Reserve’s latest policy move, gold and silver prices in India opened higher on Wednesday, though trading stayed confined to narrow bands. The Multi Commodity Exchange saw measured gains amid the wait-and-see mood in Mumbai.
Gold for June 2026 delivery started the day at ₹1,50,720, reflecting a 0.46% or ₹693 advance over Tuesday’s ₹1,50,027 close. It later softened to ₹1,50,008 by late morning, off by a marginal ₹19. The contract has swung from ₹1,49,720 to ₹1,51,527 in early deals.
Silver’s July 2026 futures rose to ₹2,43,589 at open, up 0.34% or ₹826 from ₹2,42,763. As of reporting, it held at ₹2,43,475, a 0.29% gain of ₹712, with intraday lows at ₹2,42,972 and highs reaching ₹2,43,835.
Overseas, gold traded 0.19% higher at $4,616/oz, while silver gained 0.81% to $73.81/oz. Market watchers attribute the mild optimism to positioning before the Fed’s evening decision. Rising crude prices have rekindled inflation fears, and any suggestion of tighter policy could weigh on non-yielding assets like gold.
Despite short-term risks, the safe-haven appeal persists. Over the last 12 months, gold has returned nearly 40% in USD, and silver a whopping 120%, rewarding patient investors through geopolitical turbulence and economic volatility. Tonight’s Fed commentary will be pivotal.
