Gold Recovers While Silver Slips, Markets Await US Inflation Data And Fed Decision

Mumbai: Gold and silver prices traded mixed on Thursday morning as investors remained cautious before US inflation readings and the Federal Reserve’s September policy decision.

Mixed moves reflected caution across precious metals, with traders avoiding aggressive positions before the release of US macroeconomic indicators.

Gold recovers after weak opening

October gold futures opened at Rs 1,53,581 per 10 grams, down Rs 182, or 0.11 percent, on the Multi Commodity Exchange. The yellow metal reversed course and climbed to an intraday high of Rs 1,54,252.

At 11 am, gold traded at Rs 1,54,177, gaining Rs 414, or 0.27 percent. The recovery tracked international bullion prices as a softer dollar supported demand. COMEX gold rose 0.27 percent to USD 4,472.60 an ounce.

Silver remains under pressure

December silver futures touched an intraday high of Rs 2,44,265 per kg, up Rs 52, or 0.02 percent. However, the metal subsequently fell Rs 1,487, or 0.60 percent, to Rs 2,42,726.

Silver later traded near Rs 2,43,000, down about 0.52 percent. COMEX silver declined 0.29 percent to USD 68.44 an ounce.

Gold’s rebound kept it close to overhead resistance, while silver struggled to hold gains despite staying above short-term averages.

Technical levels to watch

Gold remained capped near its 20-day exponential moving average. Immediate resistance is placed at Rs 1,54,000–Rs 1,54,700. A sustained move above this zone could lift prices towards Rs 1,56,300–Rs 1,57,000.

Support is seen at Rs 1,50,700–Rs 1,50,000. A break below the 100-day moving average may expose Rs 1,48,000, while weakness below Rs 1,52,000 could pull gold towards Rs 1,50,700.

For silver, resistance stands at Rs 2,45,000–Rs 2,46,000, followed by Rs 2,49,000–Rs 2,50,000. Support is placed at Rs 2,42,000–Rs 2,41,000 and then Rs 2,37,000–Rs 2,36,000. Its near-term bias remains cautious below support.

US data in focus

Investors are awaiting US producer inflation data on Thursday and consumer inflation figures on Friday for signals on the Fed’s interest-rate path. Many experts expect the central bank to leave rates unchanged at its September 15–16 meeting.

Meanwhile, crude oil strengthened amid Middle East tensions. Brent crossed USD 100 a barrel and rose 0.68 percent to USD 101.90, while West Texas Intermediate gained 1.81 percent to USD 97.79.