Gold on MCX settled up 0.25% at 29621 as support seen from Rupee weakness prices were little changed in yesterday session fell 20 cents to $1310.60/oz after falling in five of the previous six sessions as traders moved to the sidelines ahead of interest rate decision from the Fed. While no rate change is expected, the Fed will likely begin to unwind its bloated asset sheet. 

The Fed was widely expected to leave interest rates unchanged at the conclusion of its two-day policy meeting on Thursday. However the U.S. central bank could give indications on when it plans to begin unwinding its balance sheet, as well as on any future interest rate decisions.

Silver on MCX settled up 0.75% at 40062 as the dollar eased ahead of Fed meeting which is expected to provide more clues on the pace of U.S. monetary tightening. President Donald Trump’s threat that America would “totally destroy” North Korea if forced to defend itself or its allies did little to raise safe-haven demand as investors focused on the two-day Federal Open Market Committee.

If [the US] is forced to defend itself or its allies, we will have no choice but to totally destroy North Korea," President Donald Trump said. U.S. home-building fell for a second straight month in August as a rebound in the construction of single-family houses was offset by persistent weakness in the volatile multifamily home segment.

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