Mumbai, Dec 9 || Gold prices were steady in early trade on Tuesday, as investors stayed cautious ahead of the US Federal Reserve’s interest rate decision.
On the Multi Commodity Exchange (MCX), gold February contracts were unchanged at Rs 1,29,978 per 10 grams during early trade.
"In the domestic market, MCX Gold (Feb) is trading near Rs 1,29,952, closely tracking the global uptrend while also receiving support from rupee weakness," market experts said.
"The Rs 1,29,200 region continues to act as a key short-term support. As long as this level holds, the path remains open toward the Rs 1,30,000–Rs 1,31,000 resistance zone," analysts stated.
Silver, however, moved higher, with MCX silver March futures rising 0.50 per cent to Rs 1,82,705 per kg.
The focus in global markets is now on the Federal Reserve, which will announce its policy decision on Wednesday (December 10).