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MCX gold and silver trade lower as investors await US Federal Reserve policy decision, with key resistance levels and Fed signals set to guide bullion trend.
By Anshul June 17, 2026, 11:54:16 AM IST (Published)
2 Min Read
Gold and silver prices traded lower on the Multi Commodity Exchange (MCX) on Wednesday (June 17) as investors turned cautious ahead of the US Federal Reserve's policy decision, even as global bullion prices remained supported by easing inflation concerns and a softer dollar.
MCX gold futures were trading near ₹1.53 lakh per 10 grams, while silver futures slipped below the ₹2.50 lakh-per-kg mark, reflecting a pause in the recent rally in domestic bullion prices.
The movement comes after a strong recovery in international markets,
where gold extended gains for a fifth straight session and silver also edged higher.
Analysts said lower crude oil prices and optimism surrounding a preliminary Us-Iran peace framework have eased fears of an inflation spike, reducing expectations of aggressive monetary tightening and lending support to precious metals globally.
At the same time, investors remain focused on the Fed's policy guidance and economic projections for clues on the future interest-rate path.
From a technical perspective, Ravi Singh, Chief Research Officer at Master Capital Services, said MCX gold futures settled almost flat at ₹1.53 lakh per 10 grams in the previous session and continue to trade below their 21-day and 55-day exponential moving averages, indicating that the short-term trend remains weak.
According to Singh, the ₹1.54 lakh-₹1.55 lakh per 10 grams zone remains a key resistance area for gold. A sustained move above these levels could improve momentum and trigger further recovery.
Manav Modi, Commodity Analyst at Motilal Oswal Financial Services, said easing inflation expectations and a steady US dollar have helped bullion prices recover from recent lows. However, he noted that the Federal Reserve meeting remains the key near-term trigger for both gold and silver prices.
Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions and President of the India Bullion and Jewellers Association, noted that market expectations for a December rate hike have moderated, while the proposed US-Iran agreement has reduced fears of a prolonged inflation shock.
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