Indian Gold Price Pulls Back as Traders Position Ahead of Key Central Bank Cues

India's gold prices eased a bit this week after surging to record highs in some places. Local 24-carat gold dropped by ₹10 per 10 grams to ₹1,00,360, while 22-carat bullion also slipped to ₹91,990 . In Kolkata, where prices had previously increased past ₹1,03,000 amid Middle East tensions, gold has now stabilised around ₹1,01,500.

On the global front, gold held steady at around $3,388 an ounce in Asian trading as investors looked toward the US Federal Reserve's upcoming policy announcement . Even with profit-selling, the wider safe-haven story is intact.

Silver Advances Through Precious-Metal Diversification

In contrast to gold, silver showed upward movement, advancing ₹100 per kg to ₹1,10,100 . This is a portfolio rebalancing by investors spreading into various metals under global uncertainty.

Market players observed that the industrial demand for silver can support its demand, particularly if gold is high in the near term.

Crude Retreat Provides Respite, but FX Markets Monitor Rupee

Overnight, Brent and WTI crude futures fell by as much as 1.6%, relieving some inflationary pressure . In spite of this drop, the rupee still trades close to two-month lows (₹86.38–₹86.42 per US dollar), dragged down by oil import prices and ongoing risk aversion.

Market observers anticipate the Reserve Bank of India will be watching closely for the ₹86.50 level. Foreign exchange and commodities direction will rely on the result of the US Fed meeting and any additional geopolitical events.

Outlook & Trading Strategy

With the US Federal Reserve meeting concluding today, markets are braced for policy guidance rather than changes in interest rates. It  continued volatility across gold and energy markets based on geopolitical headlines.

Key levels to watch include₹99,500-₹1,00,500 for gold, ₹1,09,000-₹1,11,000 for silver, and crude support/resistance at $75-$77 per barrel. The rupee’s next major benchmark will be around ₹86.50.

During times of uncertainty, currency and commodities traders should exercise prudence, guiding their attention toward risk-adjusted trades that track global liquidity flows.

Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory.

To read the RA disclaimer, please click here