Gold and Silver are trading marginally lower in futures market on Thursday. Gold futures declined Rs 13.00 or 0.05 percent to trade at Rs 24,707.00 per 10 gram at the Multi-Commodity Exchange (MCX). Silver futures declined Rs 23.00 or 0.07 percent to trade at Rs 33,952.00 per KG at the MCX.

Commenting on the outlook on bullion, Kedia Commodity Comtrade said, ''Gold trading range for the day is 24,605-24,893. Gold hovered below USD 1,100 after the Fed said the US economy and job market continue to strengthen, supporting a possible interest rate rise.

Silver trading range for the day is 33,382-34,546. Silver gained on short covering after market players awaited the Fed's monetary policy statement for fresh signals on the timing of a U.S. interest rate hike.''