Bullion counter may open on positive path tracking bounce back in international markets as investors will eye the outcome of FOMC meeting later today .Moreover movement of greenback will give further direction to the prices. Gold can move in range of 30800-31200 while silver can move in range of 45800-47000 in near term.
Gold was little changed in Asian trade on Wednesday as investors awaited the outcome of the Bank of Japan's policy meeting and a decision on interest rates from the U.S. Federal Reserve later in the day. The U.S. central bank is widely expected to hold interest rates unchanged at 0.25 percent to 0.50 percent, and could hint at a rate hike by the end of the year. Russia's gold reserves increased to 49.1 million troy ounces as of the start of September from 48.4 million ounces a month earlier, the central bank said on Tuesday.
Courtesy: Smc Comtrade