Gold prices steady ahead of US Fed meeting

MG News | March 20, 2024 at 01:14 PM GMT+05:00

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March 20, 2024 (MLN): The domestic bullion edged higher on Wednesday, with the price of 24-karat gold gaining Rs500 to Rs227,800 per tola.

The Karachi Sarafa Association reported that the price of 24-karat gold reached Rs195,302 per 10-gram, reflecting an increase of Rs429.

Similarly, the price of 22-karat gold rose and was quoted at Rs179,027 per 10-gram.

On the other hand, silver prices remained unchanged, with 24-karat silver being sold at Rs2,580 per tola and Rs2,211.93 per 10-gram.

Last week, 24-karat gold snapped its two-week-long upward journey and settled with a loss of Rs2,700 per tola.

On the global front, international spot gold traded near $2,155.8 an ounce, down by 0.08% from the previous session.

Investors are closely monitoring the US Federal Reserve's policy decision later today, with the market largely expecting the Fed to hold firm.

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	90,380.00	90,600.00 87,875.00	715.00 0.80%
BRENT CRUDE	64.99	65.41 63.61	0.07 0.11%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-1.85 -2.09%
ROTTERDAM COAL MONTHLY	98.75	98.75 98.50	0.90 0.92%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	60.48	60.89 59.22	0.12 0.20%
SUGAR #11 WORLD	14.85	14.90 14.66	0.13 0.88%