New Delhi, Oct. 29 -- Gold prices on the Multi Commodity Exchange of India (MCX) traded higher on Wednesday, following gains in international bullion prices, ahead of the US Federal Reserve meeting outcome.

MCX gold rate opened flat at Rs.1,19,647 per 10 grams, as against its previous close of Rs.1,19,646. MCX silver price opened higher at Rs.1,44,761 per kg as compared to its previous close of Rs.1,44,342.

At 9:08 AM, MCX gold rate was up by Rs.401, or 0.34%, at Rs.1,20,047 per 10 grams, while MCX silver price was trading higher by Rs.989, or 0.69%, at Rs.1,45,331 per kg.

In the global markets, gold prices inched higher ahead of a widely expected US Fed rate rate cut, although easing US-China trade tensions kept bullion strength in ch...