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Gold Price Today: MCX Gold Slips to Rs. 1.55 Lakh per 10 Grams Ahead of Fed Decision
Gold prices traded lower in early trade today, on 18 March 2026, as investors took a cautious stance amid the upcoming US Federal Reserve policy decision regarding rate cuts. However, the ongoing geopolitical concerns continue to provide support for bullion.
On Multi-Commodity Exchange (MCX), Gold April futures declined 0.30% to Rs. 1,55,523 per 10 grams, while Silver contract for May futures backed 0.98% to Rs. 2,50,639 per kg.
Domestic Gold Prices
The price of 24K gold decreased by Rs. 33 in early trade, with ten grams of precious metal trading at Rs. 1,57,750. The price of 22K gold also increased by Rs. 30, with ten grams of yellow metal selling at Rs. 1,44,600.
The price of ten grams of 24K gold stood at Rs. 1,57,750 in Mumbai and Kolkata and Rs. 1,58,950 in Chennai. In Delhi, the price of 10 grams of 24K gold was Rs. 1,58,240.
Fed Policy Decision in Focus
Investors are closely watching and awaiting the outcome of the US Federal Open Market Committee (FOMC) meeting on March 18, 2026. They expect the Fed to likely keep the interest rates unchanged amid rising energy prices and inflation concerns.
Investors also focus on the central bank’s forward guidance. Any sign of a prolonged high-interest-rate or hawkish commentary could weigh on gold prices in the short term. Higher interest rates reduce the attractiveness of gold, as the metal does not offer yields compared to interest-bearing assets.
Geopolitical Tensions Provide Support
Despite the decline, the price of gold is supported by the escalating tensions in the Middle East. The tensions have intensified after reports of strikes on key military and energy infrastructure.
The conflict has disrupted the global supply of oil through the Strait of Hormuz. The route is responsible for around 20% of oil shipments in the world. As a result, crude oil prices remain high, continuing to raise concerns about inflation.
Also Read: How Central Bank Policies Influence Gold Price Movements
Key Levels to Watch
On MCX, gold has support at Rs. 1,54,800 and Rs. 1,53,500 and resistance at Rs. 1,57,200 and Rs. 1,58,600, while silver has support at Rs. 2,50,000 and Rs. 2,46,600 and resistance is at Rs. 2,57,700 and Rs. 2,61,600.
Internationally, gold has support at $4,964 and $4,920, while resistance is at $5,055 and $5,084 per troy ounce, and silver has support at $78 and $74.40, while resistance is near $82.80 and $86.40 per troy ounce.
