New Delhi, March 18 -- Gold and silver rates today traded within a narrow range on Wednesday, March 18, on expectations around the Federal Reserve's rate-cut trajectory against rising inflation risks stemming from the conflict in the Middle East.

Spot gold rate today was trading marginally higher at $5,012 per ounce, while spot silver was down 0.17% to $79.7 per ounce during the Asian trading hours on Wednesday.

The US Federal Reserve is widely expected to leave interest rates unchanged at its policy meeting on Wednesday, with investors closely watching the central bank's assessment of rising energy prices and a softening labour market, according to a Bloomberg report.

Oil prices remained firm as the conflict entered its third week.

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