The price of gold rate on the Multi Commodity Exchange started the day lower but quickly gained purchasing interest, rising to a day’s high of 58,648 per 10 grams. (MCX). However, profit-booking soon began, and the price of gold retraced its intraday highs before falling to its midday low of 58,505 per 10 gram. The price of gold is trading in a constrained band of $1,938 to $1,946 per ounce on the international spot market. The valuable yellow metal may remain muted until today’s release of the final results of the FOMC meeting, according to experts in the commodity market.