Mumbai, March 17: Gold and silver prices have seen a significant rise ahead of the US Federal Reserve meeting, with both precious metals increasing by up to 1.31 percent on Tuesday.
As of 9:41 AM on the Multi Commodity Exchange (MCX), gold for the April 2, 2026 contract has risen by ₹1,061 or 0.68 percent, trading at ₹1,56,797 per 10 grams. During the trading session, gold reached a low of ₹1,56,649 and a high of ₹1,56,996, indicating a bullish trend within a limited range.
On the other hand, silver for the May 5, 2026 contract is trading at ₹2,59,885, up by ₹3,353 or 1.31 percent. Silver has fluctuated between a low of ₹2,58,338 and a high of ₹2,61,457 during the session.
The surge in gold and silver prices is being observed as investors remain cautious ahead of the two-day Federal Reserve meeting starting on March 17, with decisions to be announced on March 18. The meeting is considered crucial due to rising tensions from the ongoing war and increased crude oil prices.
In recent months, the rise in gold and silver prices has largely been attributed to cuts in interest rates. If the Fed decides to maintain interest rates or signals inflation due to rising crude oil prices, it could negatively impact gold and silver prices.
Investors are staying alert as crude oil prices have surged by over 50 percent in the past month due to the conflict between Iran, the US, and Israel.