Gold price today: Gold traded lacklustre on the MCX on Wednesday (29 April) morning ahead of the US Federal Reserve’s monetary policy decision and Fed chair Jerome Powell’s comments on the impact of a US-Iran war on economic growth and inflation.

MCX gold June futures was 0.03% up at ₹1,50,077 per 10 grams around 9:10 am. MCX silver July futures was 0.34% up at ₹2,43,600 per kg at that time.

The US Fed is expected to keep interest rates unchanged on 29 April, as elevated crude oil prices driven by the US-Iran conflict have raised the risk of inflation shooting up, which is already above the central bank’s target level.

(This is a developing story. Please check back for fresh updates.)

Read all market-related news here

Read more stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.