Gold Rates & Silver Rates Today (29/10/2026) LIVE: Spot Gold & Silver Price Falls 1% After Fed Pauses On Rates

Gold rates and silver rates in India are likely to follow the weaker trend of global bullion market on October 29, 2026. The spot gold price plunged by nearly 1% to struggle around $4,044 per ounce and spot silver slipped by 1% as well to trade below $53.5 per ounce. This comes after US Federal Reserve paused on rate hikes overnight.

FOMC has decided to maintain the target range for the federal funds rate at 3-3/4 to 4 percent, in support of the Federal Reserve's dual mandate. The Committee is continuing its policy of maintaining ample reserves in the banking system. The Federal Open Market Committee approved the policy decision by a 10-20 votes.

Precious metals failed to rally despite decline of 1% each in crude oil prices. Nonetheless, US WTI crude and Brent crude futures remained elevated near $101.5 per barrel and $114 per barrel.

Two officials dissented in favor of a 25-basis-point rate hike, strengthening market expectations for a potential increase in December amid persistent energy-driven inflation. Fed Chair Kevin Warsh also indicated that the central bank could reduce the number of interest-rate decisions from eight to six annually, a proposal that could add to policy uncertainty. Investors are now awaiting the US PCE price index, the Fed's preferred inflation measure, for further insight into the monetary policy outlook. Meanwhile, markets continue to assess renewed diplomatic efforts to prevent further escalation of the Middle East conflict. However, elevated oil prices remain a concern, sustaining inflationary pressures and expectations for higher interest rates, which could weigh on gold, as per Trading Economics.

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Oct 29, 2026, 9:14 am IST

Live Oil Prices Today: Brent Crude Declines Under $114

Brent prices slipped toward $114 per barrel on Thursday, moving away from four-year highs. As per Trading Economics, despite the pullback, Brent crude has gained more than 17% this month, supported by intensifying clashes involving Saudi Arabia and Iran-backed Houthi forces, alongside continued threats to shipping through the Strait of Hormuz. However, energy flows from the region have since recovered to levels close to those recorded before the war.

Oct 29, 2026, 9:14 am IST

Live Oil Prices Today: US WTI Crude Falls Below $102

Crude oil prices slipped below $102 per barrel on Thursday, trimming gains from the previous session as investors assessed renewed diplomatic efforts to prevent further escalation of the Middle East conflict. Reports suggested that US Vice President JD Vance had contacted Iranian national security official Mohsen Rezaei, while President Donald Trump confirmed that negotiations were underway through mediators but acknowledged uncertainty over their outcome, as per Trading Economics.

Oct 29, 2026, 8:44 am IST

Live Gold Rates Today: Spot Gold Falls 1%

Spot gold price dropped by nearly 1% to trade below $4,038 per ounce after the US Fed policy outcomes. As per Trading Economics, two officials dissented in favor of a 25-basis-point rate hike, strengthening market expectations for a potential increase in December amid persistent energy-driven inflation. Fed Chair Kevin Warsh also indicated that the central bank could reduce the number of interest-rate decisions from eight to six annually, a proposal that could add to policy uncertainty.

Oct 29, 2026, 8:44 am IST

Live Silver Rates Today: Spot Silver Crashes 1.5%

Spot silver dropped as sharply as 1.5% to trade around $53.15 per ounce. As per Trading Economics, markets continue to assess renewed diplomatic efforts to prevent further escalation of the Middle East conflict. However, elevated oil prices remain a concern, sustaining inflationary pressures and expectations for higher interest rates, which could weigh on silver.

Oct 29, 2026, 8:44 am IST

Live Gold Silver Rates Today: Fed Pauses On Rate Hikes In October Policy

FOMC has decided to maintain the target range for the federal funds rate at 3-3/4 to 4 percent, in support of the Federal Reserve's dual mandate. The Committee is continuing its policy of maintaining ample reserves in the banking system. The Federal Open Market Committee approved the policy decision by a 10-20 votes. Voting against the monetary policy action were Lisa D. Cook and Beth M. Hammack, who preferred to raise the target range for the federal funds rate by 1/4 percentage point at this meeting.