Gold rate today: Gold prices slide to Rs 96,900 per 10 grams as investors eye US Fed policy – Times of India

Gold prices at the moment: Investors at the moment are targeted on the Federal Open Market Committee (FOMC) assembly scheduled for later at the moment. (AI picture)

Gold rate at the moment: Gold pricesdeclined on Wednesday amid rising optimism about potential commerce discussions between the US and China, which lowered demand for secure-haven belongings. Investors are awaiting the U.S.Federal Reserve’s policy announcement later at the moment.At 10:01 am, MCX June gold futures had been buying and selling at Rs 96,927 per 10 grams, exhibiting a lower of Rs 564 from the earlier shut. June silver futures skilled a minor decline, buying and selling at Rs 96,690 per kg, down by Rs 11.In worldwide markets, Spot gold decreased by 1.2% to $3,388.67 an oz. at 0225 GMT, following an almost 3% improve within the earlier session, in accordance to an ET report.U.S. Treasury Secretary Scott Bessent and commerce negotiator Jamieson Greer are scheduled to meet Chinese language Vice Premier He Lifeng to focus on doable options, sparking hopes for lowered commerce tensions. Each international locations had applied reciprocal tariffs final month, elevating worries about international financial deceleration.(*10*)On Tuesday, U.S. President Donald Trump introduced that he and senior administration officers would consider potential commerce agreements over the following fortnight to decide which of them to pursue.Additionally Learn | India has the world’s seventh highest gold reserves! Why is RBI shopping for gold and the way does it assist the Indian economic system?Investors at the moment are targeted on the Federal Open Market Committee (FOMC) assembly scheduled for later at the moment, the place the U.S. central financial institution is predicted to keep present rates of interest.Market contributors anticipate rate reductions of 80 foundation factors within the present yr, commencing in July.Investors await Federal Reserve Chair Jerome Powell’s commentary for insights relating to potential timing of future curiosity rate changes.“Gold prices dipped beneath $3,380/oz following stories of upcoming U.S.-China commerce talks, which eased secure-haven demand. The U.S. greenback index additionally firmed above 99.5, forward of the Federal Reserve’s policy announcement, limiting gold upside. Investors are watching Fed Chair Powell’s assertion carefully for rate clues amid political strain to loosen financial policy, which can form gold’s close to-time period development,” mentioned Rahul Kalantri, VP Commodities, Mehta Equities.The valuable metallic performs nicely in periods of low rates of interest and is historically regarded as safety towards financial and political uncertainty.Additionally Learn | After gold prices hitting Rs 1 lakh, is it time for silver to rally?Within the metals market, silver decreased 0.9% to $32.93 per ounce, while platinum declined 0.6% to $979.07 and palladium lowered 0.4% to $970.28.“Gold has help at $3335-3310 whereas resistance at $3400-3422. Silver has help at $32.65-32.40 whereas resistance is at $33.30-33.55. In INR gold has help at Rs 96,650-95,980 whereas resistance at Rs 97,950-98,390. Sliver has help at Rs 95,580-94,750 whereas resistance at Rs 97,350-97,950,” mentioned Kalantri.