Gold slid 0.26% to $4,388.20 an ounce, silver rose 0.18% to $66.215, on a day that still felt the sting of the Fed’s 25‑basis‑point jump.
The pair’s reaction was swift: gold dropped 1.2% immediately after the announcement, silver fell 1.7% before rebounding to a 0.18% gain.
Ruchit Thakur, market analyst at VT Markets, said the higher yields raise the opportunity cost of holding non‑yielding assets, tightening gold’s price range.
Geopolitical jitters kept the safe‑haven narrative alive; Brent hovered at $103.77, WTI at $100.88, both slipping about 1% as Middle‑East tensions cooled.
In India, MCX gold for October delivery traded at ₹1.52 lakh per 10g, up 1.29%, while silver was at ₹2.35 lakh per kg, up 1.27%, a divergence driven by rupee‑dollar dynamics.
Fed’s median rate outlook for end‑2026 rose to 4.1% from 3.8%, signalling potential further hikes; analysts expect gold to stay within a tight corridor until yields normalize, with a possible rebound in Q3.