Today’s gold price is unchanged as silver rises and gold declines due to uncertainties over interest rate hikes.

On Wednesday, the price of gold is declining, while the price of silver is rising by 0.10%. Gold June futures were up Rs 101 or 0.17% on the Multi Commodity Exchange, trading at Rs 60,160 per 10 grams. Silver May futures were trading at Rs 74,334 per kg on the MCX, up Rs 71. As investors awaited more clarity on the Federal Reserve’s rate-hike trajectory from U.S. economic data due this week, the yellow metal moved in a narrow range on Wednesday, Reuter reports, with recessionary fears supporting the safe-haven asset to some extent. Spot gold remained steady at $1,997.40 per ounce. Gold futures in the U.S.u.s.fed were up 0.2% at $2,008.60.

“Gold prices remained stable around the crucial $2,000 level as investors maintained their caution and awaited further information on the Federal Reserve’s rate-hike trajectory from impending U.S. economic data. The benchmark 10-year Treasury yields fell by the most since March, while short-term yields increased as investors weighed growing worries about the regional banking industry and the potential for a slowdown in growth against concerns about the U.S. debt ceiling. The dollar index remained stable during this time.

As future concerns increased, U.S. consumer confidence hit a nine-month low in April, raising the possibility of a slowdown in global growth. The figures on US new house sales, however, exceeded forecasts. There were also updates on First Republic Bank, which has fewer and more difficult choices to turn around its operations, including the possibility of creating a “bad bank” or selling assets. Now the focus switches to US GDP, Core PCE price index data later this week, and US Core Durable Goods Orders data expected for today.

On the COMEX, the overall trend may be between $1970 and 2015, while prices domestically may be between Rs 59,750 and Rs 60,400, according to Manav Modi, MOFSL. “Gold and silver prices saw extreme volatility and day-to-day oscillations before closing on a mixed note on Tuesday. As U.S. Treasury yields have fallen this week, gold prices in early trades have risen slightly as a result of bargain buying. Today’s reduced crude oil prices and higher U.S. dollar index, however, have a negative impact on the metals markets.

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