Bullion Market , 19 Mar : Gold and silver prices declined on Thursday after the US Federal Reserve kept its benchmark interest rates unchanged, dampening investor sentiment in bullion markets.
Despite ongoing geopolitical tensions in West Asia, which typically support safe-haven assets, both metals saw a notable correction.
On the Multi Commodity Exchange (MCX), gold futures fell about 1 per cent to ₹1,51,712, while silver futures dropped nearly 2 per cent to ₹2,43,083 during intraday trade.
The decline followed the Federal Open Market Committee’s decision to maintain the federal funds rate at 3.5 to 3.75 per cent.
In global markets, gold slipped to around $4,850 per ounce, while silver declined to nearly $75.73 per ounce.
Analysts said that although geopolitical risks continue to offer underlying support, short-term price movements remain driven by monetary policy signals and inflation expectations.
Experts identified the $4,850–$4,900 range as a key resistance zone for gold. A sustained move above this level could push prices higher, while a fall below $4,800 may trigger further weakness.
Domestically, MCX gold held above the ₹1,50,000–₹1,52,000 support band, with resistance near ₹1,55,000–₹1,56,000.
Silver, however, remained under pressure, trading within a ₹2,40,000–₹2,42,000 support range and facing resistance at ₹2,47,000–₹2,50,000.
A break below ₹2,40,000 could lead to further downside.
Crude oil prices surged sharply, adding volatility to global markets. Brent crude approached $112.83 per barrel, while WTI hovered near $100.
Rising oil prices have heightened inflation concerns and may continue to influence commodity markets, including bullion, in the near term.
