Gold and silver prices rises 'US Federal Reserve policy meeting'

Gold and silver prices rose on Tuesday ahead of the US Federal Reserve’s policy meeting, with both precious metals gaining in early trade amid cautious investor sentiment. On the Multi Commodity Exchange (MCX), gold futures (April 2) were trading at Rs 1,57,145 per 10 grams at around 10 am — up Rs 1,409 or around 1 per cent.

During the session so far, gold touched an intraday low of Rs



1,56,649, indicating a firm but range-bound trend.

Meanwhile, silver contracts for May 5 climbed 2.4 per cent or Rs 6,367 to trade at Rs 2,62,899 per kg. The white metal hit an intraday low of Rs 2,58,338 in early deals.

The rise in precious metals comes ahead of the US Federal Reserve’s two-day policy meeting beginning March 17, with the outcome scheduled for March 18.