Gold, Silver Rate Today Live Updates: Gold prices hold steady; all eyes on US Federal Reserve meet

Gold, Silver Rate Today Live Updates: Gold prices hold steady; all eyes on US Federal Reserve meet

Gold, Silver Rate Today Live Updates: Despite the recent rise in global crude oil prices, gold prices have largely held steady with some declines as the market awaits for the US Federal Reserve’s commentary on inflation and the likely direction its rate cut policy will take. A rate cut is good for gold prices, which tend to rally in a low interest rate environment.

Investors widely expect the Federal Reserve to leave interest rates unchanged at the conclusion of its two-day policy meeting later in the day.

Gold and silver have delivered stellar returns over the last year but the rally has somewhat fizzled out in recent months, following a correction from lifetime highs and then the US-Iran war stoking inflation fears. Check this space for live updates on gold, silver prices:

20:24 (IST) Apr 29

Gold Rate Today: Closing bullion rates on Wednesday

1 Gm Gold 22 Kt - Rs 14,290

1 Gm Gold 24 Kt - Rs 15,590

Silver Per Kg: Rs 2,54,400.

17:31 (IST) Apr 29

Gold Rate Today: Long-term outlook bullish

"Gold may not immediately surge to $5,000, as ongoing geopolitical tensions in West Asia continue to weigh on investor sentiment. However, the long‑term outlook remains firmly bullish, supported by strong fundamentals such as central bank demand, inflationary pressures, and limited supply growth. While short‑term volatility is inevitable, gold’s role as a safe‑haven asset ensures that it will remain a cornerstone of wealth preservation, with potential for significant upside once global uncertainties ease,” says Hareesh V, Head of Commodity Research, Geojit Investments Limited.

16:27 (IST) Apr 29

Gold Rate Today: Gold under pressure ahead of the Fed decision

Yesterday, spot gold slumped nearly 2.5% to $4695 on surge in oil prices that continues to stoke inflation concerns. The US Dollar Index and yields are edging higher as crude oil is extending its recent gains.

The US President Trump has ordered to prepare for extended blockade of the Strait of Hormuz as US and Iran remain wide apart on key issues including nuclear enrichment.

Bank of Canada and the US Federal Reserve will announce their monetary policies tonight.

The Fed is expected to keep rates steady. The Central Bank signalling rate cuts are off the table this year will further weigh on commodities prices.

The yellow metal, currently 0.60% lower at $4569, is vulnerable after falling through $4600 support. Bears eye a test of $4470-$4480 zone. Interim support is at $4550/$4500. Resistance is at $4610/4670, says Praveen Singh, Research analyst at Mirae Asset ShareKhan.
 

15:20 (IST) Apr 29

Gold Rate Today: Global uncertainty aids price rise

According to Gaurav Garg, Research Analyst at Lemonn Markets Desk, gold prices posted modest gains on Wednesday, aided by persistent geopolitical uncertainty and weakness in the dollar.

In international markets, Comex gold futures for June delivery advanced 0.16 per cent to $4,615.69 per ounce in New York.

14:26 (IST) Apr 29

Gold Rate Today: MCX Gold futures edge up

Gold prices edged up in futures trading on Wednesday, with the metal hovering around Rs 1.50 lakh per 10 grams, as investors adopted a cautious stance ahead of the US Federal Reserve’s policy announcement.

On the Multi Commodity Exchange (MCX), the actively traded June gold contract rose by Rs 93, or 0.06 per cent, to Rs 1,50,120 per 10 grams. Trading activity remained strong, with a turnover of 9,067 lots.

Analysts said gold continued to draw support from a softer US dollar and lingering geopolitical tensions in West Asia. However, the upside remained limited due to elevated crude oil prices.

They also noted that the Federal Open Market Committee’s meeting later in the day carries added significance, as it will be the final one chaired by Jerome Powell. As a result, both the policy statement and Powell’s remarks after the meeting are expected to be closely watched by bullion investors.

13:26 (IST) Apr 29

Gold Rate Today: Mumbai bullion opening rates

Silver spot (in Rs per kilo) : 238911.00

Standard gold (99.5) : 148225.00

Pure gold (99.9) : 148821.00

Gold Rate Today: Global gold demand reaches all-time high

According to the World Gold Council, the total gold demand in Q1, including over-the-counter transactions, rose 2 per cent from a year earlier to 1,231 tonnes. Although the increase in volume was relatively modest, the sharp rise in gold prices pushed the overall value of quarterly demand up by 74 per cent, taking it to a record US$193 billion.

Investment demand for bars and coins was especially strong. At 474 tonnes, it was up 42 per cent year-on-year, marking the second-highest quarterly level ever recorded. Investors in Asia were the primary drivers of this surge, with robust buying across gold investment products.

Gold-backed exchange-traded funds also continued to attract inflows during the quarter, adding 62 tonnes. However, this pace was slower than in the first quarter of 2025, when inflows had reached 230 tonnes, partly due to substantial outflows from U.S.-based funds in March.

High gold prices weighed on jewellery demand in volume terms, which declined 23 per cent compared with the same period last year. Even so, consumer spending on jewellery increased by 31 per cent, indicating that appetite for gold jewellery remained resilient despite elevated prices.

Central banks remained active buyers, purchasing a net 244 tonnes of gold in the quarter, up 3 per cent year-on-year. This came even as gold sales by some institutions picked up during the period.

Demand for gold in the technology sector also saw a slight increase. Usage rose 1 per cent to 82 tonnes, supported largely by ongoing expansion in AI-related infrastructure.
 

10:56 (IST) Apr 29

Gold Rate Today: Gold, silver prices rise

Gold and silver prices edged up slightly at the opening on the Multi Commodity Exchange (MCX) of India on Wednesday, as investors looked ahead to remarks from US Federal Reserve Chair Jerome Powell. Market participants are seeking guidance on the potential economic impact of the Iran conflict, particularly as peace talks remain at an impasse.

The US Federal Reserve is broadly expected to leave interest rates unchanged when its two-day policy meeting concludes later today. Meanwhile, attempts to find a resolution to the Iran conflict have made little headway, with US President Donald Trump reportedly unhappy with Tehran’s latest proposal.

On the domestic bourse, MCX silver futures for May 2026 delivery rose by Rs 1,258, or 0.5%, to Rs 2,38,018 per kilogram. Gold futures for June 2026 delivery were largely steady at Rs 1,50,096 per 10 grams. In the previous trading session, both precious metals had finished on a flat note.
 

10:07 (IST) Apr 29

Gold Rate Today: Factors driving gold prices

Gold prices fell sharply in yesterday’s session hitting their lowest levels in nearly a month as a stronger US dollar and rising oil prices weighed on sentiment, while investors braced for a packed week of global central bank decisions. The uptick in crude came after reports that US President Trump was dissatisfied with Iran’s latest proposal, which suggested reopening the Strait of Hormuz while delaying discussions on its nuclear program, keeping negotiations at a stalemate. With the Strait—through which nearly 20% of global crude flows—remaining largely shut, oil prices stayed elevated, intensifying fears of an energy-driven inflation shock.

This has raised expectations that central banks could maintain a higher-for-longer rate stance or even consider hikes, a negative for non-yielding assets like gold. Additional pressure came from reports that the UAE may exit the OPEC+ framework, creating uncertainty around future supply dynamics.

On the policy front, the BOJ held rates steady at 0.75% but delivered a hawkish signal with rising dissent for hikes, while focus now shifts to upcoming decisions from the Federal Reserve, European Central Bank, and Bank of England. Key data this week includes US GDP, inflation, and durable goods orders, following slightly stronger consumer confidence, says Manav Modi Commodities Analyst Motilal Oswal Financial services Ltd.

09:08 (IST) Apr 29

Gold Rate Today: COMEX gold is facing resistance near $4800–$4850

“Gold traded weak on Tuesday declining around ₹1500 to ₹150150, as rising crude prices continue to push inflation expectations higher, reducing the likelihood of any near-term dovish stance from the US Fed. With oil-led inflation, markets are now pricing a “higher-for-longer” interest rate scenario, which is weighing on gold as a non-yielding asset.

COMEX gold is facing resistance near $4800–$4850 and currently trading closer to $4610, indicating selling pressure at higher levels.

Focus remains on this week’s US Fed policy decision, where commentary on inflation and rates will be crucial, along with ongoing US–Iran ceasefire developments, which continue to keep volatility elevated.

In the near term, gold is expected to trade within a range of ₹148000–₹152000, with a cautious and volatile bias,” says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

08:08 (IST) Apr 29

Gold Rate Today: Gold down from record peak

Gold has retreated sharply from its record peak, declining by nearly 26 per cent, or around Rs 53,000 per 10 grams, from its all-time high of Rs 2,02,984 on the MCX. In recent sessions, the metal has largely moved within a narrow range, with the absence of fresh catalysts keeping prices directionless.

Although gold has recovered from its recent lows, it has found it difficult to hold above near-term resistance levels, suggesting that selling pressure continues to emerge at higher levels.

According to Jateen Trivedi, Vice President and Research Analyst at LKP Securities, the immediate resistance zone is placed between Rs 1,52,500 and Rs 1,53,000. A stronger hurdle lies higher at Rs 1,55,500.

On the downside, initial support is seen at Rs 1,50,000, while a more significant support level is positioned at Rs 1,48,500.

Based on the current technical setup, gold appears to be trading within a defined range, though the bias remains tilted to the downside. This market structure, he said, supports a strategy of selling on rallies rather than chasing prices higher.

08:08 (IST) Apr 29

Silver Rate Today: Spot silver rises marginally

Spot silver gained 0.1 per cent to $73.12 per ounce. Platinum also rose 0.1 per cent to $1,942.60, while palladium slipped 0.1 per cent to $1,459.14 per ounce.

08:08 (IST) Apr 29

Gold Rate Today: Energy price concerns

The World Bank has warned that energy prices could jump 24 per cent in 2026, potentially reaching their highest levels since Russia’s full-scale invasion of Ukraine, assuming the most severe disruptions linked to the Middle East conflict persist through May.

Oil prices climbed nearly 3 per cent on Tuesday, as ongoing concerns over supply disruptions caused by the closure of the Strait of Hormuz outweighed market reaction to the UAE’s decision to exit OPEC and OPEC+.

08:07 (IST) Apr 29

Gold Rate Today: Gold in domestic market yesterday

According to Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, gold touched a three-week low on Tuesday as surging energy prices reignited inflation worries. This, in turn, strengthened expectations that interest rates could remain elevated for a longer period.

He noted that rising inflation expectations have reinforced the likelihood of a more hawkish monetary policy stance, pushing bond yields higher. Higher yields tend to reduce the appeal of non-interest-bearing assets such as gold, thereby exerting further pressure on prices.

Gandhi also pointed out that traders were cutting back their holdings ahead of crucial central bank announcements, particularly the upcoming decision from the US Federal Reserve, which added to the downward momentum.

08:07 (IST) Apr 29

Gold Rate Today: Gold steady in global markets

Gold prices were largely unchanged on Wednesday as investors adopted a cautious stance ahead of comments from US Federal Reserve Chair Jerome Powell.

In the spot market, gold edged up 0.1 per cent to $4,598.45 an ounce as of 0055 GMT. This followed a decline in the previous session, when prices touched their lowest level since April 2.

US gold futures for June delivery also moved slightly higher, rising 0.1 per cent to $4,612.10 per ounce.

Gold, Silver Rate Today Live Updates: Commodity and gold market participants are looking for clues on how the ongoing conflict involving Iran could affect the global economy, especially as diplomatic efforts remain stalled.

Attempts to resolve the Iran conflict remain deadlocked. US President Donald Trump has expressed dissatisfaction with Tehran’s latest proposal, stating that Iran had indicated it was in a state of collapse and was still trying to determine its leadership direction.

Meanwhile, demand from China, which is the world’s largest gold consumer, remained firm. Data from Hong Kong’s Census and Statistics Department showed that China’s net gold imports via Hong Kong rose to 47.866 metric tonnes in March, up from 46.249 tonnes in February.

(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of Nation News Network)