Gold prices at Rs 1,300/10 gram, silver rallies Rs 4,000/kg. Key levels to track ahead of US Fed decision - economictimes.indiatimes.com

AI desk brief

MCX gold and silver surged into the Fed decision, with September silver up Rs 4,000 to Rs 2,35,988/kg and October gold up Rs 1,300 to Rs 1,52,100/10g. Markets are pricing a 92.4% chance of at least a 25 bp Fed hike, and traders say a hawkish outcome would weigh on bullion while dovish guidance could trigger a rebound.

Spot gold eased 0.1% to $4,288.48/oz after hitting a more than one-month low, while US December gold fell 0.1% to $4,328.10. Silver was steady at $63.67/oz, platinum slipped 0.3% to $1,770.47, and palladium gained nearly 1% to $1,301.61.

Near-term levels cited: gold support at $4,310-$4,264 with resistance at $4,355-$4,400; silver support at $63.00-$62.20 and resistance at $64.40-$65.50. On MCX, gold support is Rs 1,50,150-Rs 1,49,400 and resistance Rs 1,51,500-Rs 1,52,200; silver support is Rs 2,30,000-Rs 2,27,700 and resistance Rs 2,34,400-Rs 2,37,000.