Gold, silver prices strengthen despite US Federal Reserve rate hike - business-standard.com

AI desk brief

Gold and silver held firm even after the Federal Reserve raised rates, a near-term bullish signal for metals as the market refused to sell off on higher policy rates. Comex gold was quoted near $4,400/oz and silver near $66.60/oz, while MCX gold traded around ₹1,53,000/10g and MCX silver around ₹2,39,250/kg.

MCX October gold opened ₹731 lower at ₹1,52,250/10g versus the previous close of ₹1,52,981, but later reversed to ₹1,53,050, posting an intraday high of ₹1,53,105 and low of ₹1,52,171. The article also noted softer oil prices amid Saudi efforts to restore supply, which may have helped keep broader inflation and risk sentiment in check.