look news india
Gold remained stable at the local level on Wednesday following global markets, while silver climbed by Rs. 1000. Silver witnessed a slow recovery due to weak industrial demand in the international market.
On the other hand, the Federal Reserve meeting is scheduled to be held on Wednesday, so investors are keeping an eye on the decision, due to which a cautious stance is being seen in the bullion market.
In Ahmedabad, 24-carat gold remained stable at Rs 74,000 per 10 grams. Similarly, 22-carat gold remained stable at Rs 73,800 per 10 grams. Silver rose by Rs 1,000 to Rs 91,000 per kg. Gold was trading at $ 2,329.40 an ounce on Comex late Wednesday evening, up $ 2.80 in the global market. Silver was trading at $ 29.47 an ounce on Comex, up 24.40 cents.
According to commodity analysts, the market is keeping an eye on what decision will be taken in the Fed meeting. Investors do not want to take any risk right now. Apart from this, caution is also being seen in the bullion market as inflation figures are also to be announced. On the other hand, silver improved at lower levels due to slow growth in industrial demand.
