Gold Prices Steady as Markets Await Fed Policy Decision

Gold prices held steady at ₹1.47 lakh per 10 grams in New Delhi on Wednesday, while silver prices increased by ₹500 to reach ₹2.25 lakh per kg. In international markets, spot gold traded flat or slightly higher between $4,031 and $4,035 per ounce, and silver rose nearly 1 percent to $57.54 per ounce.

Market participants are attributing this stability and cautious trading to the anticipation of the Federal Reserve System's interest-rate policy decision. Investors are specifically monitoring the upcoming press conference by Fed Chair Kevin Warsh for signals regarding U.S. monetary policy.

Several macroeconomic factors are influencing current valuations, including a strong U.S. dollar and a stronger Indian rupee. Additionally, renewed tensions in West Asia have contributed to rising crude oil prices and increased inflation concerns, further shaping the pricing environment for precious metals.