Commodities
Bullion Prices Decline Amid US-Iran War
Bullion prices declined on July 28 due to the ongoing US-Iran war, which has kept oil prices elevated. The international spot gold price dropped by 0.74% to $4,047 per ounce, while silver fell 1.93% to $57.58 per ounce.
The domestic MCX spot gold closed at Rs 1,43,829 per 10 grams on July 27. However, the futures gold for the August contract increased by 0.03% to Rs 1,43,115 per 10 grams, and silver futures for the September contract rose 0.01% to Rs 2,21,200 per kilogram.
The market is now focused on the US Federal Reserve's policy decision later this week, which is expected to provide clarity on interest rates and influence bullion prices.