Gold, Silver Rate Today Live Updates: Gold slips ahead of US inflation data; silver edges higher

Gold prices fell after hitting a more than three-month high in the previous session, as investors awaited the US PCE inflation data for clues on the Federal Reserve’s interest-rate path. Spot gold fell 0.6% to $4,626.79 per ounce by 0625 GMT, while US gold futures declined 0.2% to $4,683.60. Traders are pricing in a 61.6% chance of the Fed keeping rates unchanged next month, according to the CME FedWatch Tool. A softer inflation reading and dovish signals from Fed Chair Kevin Warsh could support gold by reinforcing expectations of lower real yields.

Silver opened at Rs 265 per gram in Chennai on Wednesday.

Opening rates for 22K gold stood at Rs 15,010 per gram, while 18K gold was priced at Rs 12,780 per gram in Chennai on Wednesday.

Silver prices in Delhi declined by Rs 3,500 to Rs 2,50,000 per kg as traders booked profits after a three-session rally, according to the All India Sarafa Association. In international markets, silver fell 1.04% to $67.88 per ounce, marking its second consecutive session of losses.

Gold prices in Delhi rose by Rs 2,700 to Rs 1,67,100 per 10 grams on Tuesday, extending their gains for a fourth consecutive session. Gold of 99.9 per cent purity had closed at Rs 1,64,400 per 10 grams on Monday. In international markets, however, spot gold fell 0.26% to $4,639.51 per ounce, giving up some of its recent gains.

Gold held near a three-month high in Asian trade, with spot gold at $4,646.08 per ounce, just below the previous session’s peak. The metal was supported by a weaker dollar and renewed concerns over US fiscal conditions, which have revived demand for gold as a hedge against currency debasement.

Gold stocks in Australia rose as much as 2.3% to a five-month high, even as the broader S&P/ASX 200 pared its early gains after hotter-than-expected inflation data raised concerns over a potential rate hike. Evolution Mining gained 0.3%, while the broader mining sub-index hit a record high, supported by strong copper prices.

Silver prices rose as investors focused on upcoming US inflation data and its implications for the Federal Reserve’s interest-rate decisions. Spot silver gained 0.7% to $69.09 per ounce, while platinum rose 0.6% to $1,869.22 and palladium advanced 1.4% to $1,345.30. A softer US inflation reading could support precious metals by reinforcing expectations for lower real yields, while broader concerns over US fiscal conditions and geopolitical developments also remained in focus.

Gold prices held steady after hitting a more than three-month high in the previous session, as investors awaited the US Personal Consumption Expenditures (PCE) inflation data for clues on the Federal Reserve’s interest-rate path. Spot gold was little changed at $4,652.39 per ounce as of 0150 GMT, while US gold futures rose 0.3% to $4,709.20. Softer-than-expected inflation could strengthen expectations of lower real yields and support demand for the non-yielding asset. Traders are currently pricing in a 63.6% chance of the Fed leaving rates unchanged next month, according to the CME FedWatch Tool.