Gold Prices Today: Yellow metal to remain range-bound ahead of FOMC meet; rising inflation to lend support

Gold Prices Today: Yellow metal to remain range-bound ahead of FOMC meet; rising inflation to lend support

We expect precious metals to remain volatile this week ahead of the FOMC meeting. Gold has support at $1962-1948, while resistance is at $2005-2020 per troy ounce, said Rahul Kalantri, VP Commodities, Mehta Equities.





March 14, 2022 / 09:44 AM IST





Gold market



Gold prices fell on March 14 in the international markets dragged by firmer US Treasury yields and improved risk appetite on hopes of peace between Russia and Ukraine. Spot gold was down 0.4 percent at $1,977.14 per ounce. US gold futures fell 0.4 percent to $1,976.40.

At 9.28am, gold contracts shed 0.28 percent at Rs 52,732 for 10 gram on the Multi-Commodity Exchange (MCX) and silver slipped 0.51 percent at Rs 70,012 a kilogram.

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Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart

Strong US dollar index and rising bond yields have capped the gains of precious metals. On the geopolitical issue, Russia-Ukraine talks have made little progress amid prevailing uncertainty. The trend in precious metals may remain range-bound as rising inflation supports gold prices. On the other hand, high expectations of a rate hike from the US fed and unexpected hawkish decision of the European Central Bank to wind down monetary