Markets are pricing in a 25-basis-points hike (bps) by the Fed, after slowing its pace to 50 bps in December, following four straight 75-bp hikes
The price of 22-carat gold also remained unchanged from yesterday's closeand it was trading at Rs 52,650
Gold prices edged up on Monday on a weaker dollar, as investor attention moved to central bank meetings this week for clarity on their rate hike strategies
The MCX Gold futures are likely to consolidate in a trading band of Rs 56,100 to Rs 57,300 in the coming trading sessions.
The price of 22-carat gold was trading at Rs 52,650
Investors are keeping a close eye on the central bank's two-day policy meeting next week, with a 25-basis-point rate increase widely expected
The price of 22-carat gold also increased by Rs 400 per 10 grams from yesterday's close
Silver prices rose Rs 200 from yesterday's close to Rs 72,500 per kg
Spot gold rose 0.3% to $1,936.62 per ounce by 1137 GMT. U.S. gold futures gained 0.5% to $1,938.00
Zero-yield bullion tends to do well in a lower interest rate environment
Silver is selling at Rs 72,300 per kg
The overall bias for Gold prices likely to remain bullish as long as Gold sustains above the Rs 55,700 - Rs 55,400 support zone. This week, Silver prices may look to retest the Rs 70,000-mark.
In Mumbai, Kolkata, and Hyderabad, 10 gram of 24-carat and 22-carat gold is selling at Rs 57,110 and Rs 52,350, respectively
The dollar rose 0.3% against its rivals, making gold more expensive for holders of other currencies
Silver prices fell Rs 300 from yesterday's close, the precious metal is selling at Rs 71,900 per kg
22-carat gold continued trading at yesterday's close of Rs 52,000
Despite the gains on Wednesday, prices have pulled back from their highest level since April 2022, reached on Monday
22-carat gold continued trading at yesterday's close at Rs 52,200
The price of 22-carat gold rose Rs 190 from yesterday's close to Rs 52,200
Higher rates lifted returns on bonds, making non-yielding gold less desirable for financial investors, pushed the dollar to its strongest in 20 yrs, making dollar-priced gold costlier for many buyers