Fed Decision, Oil Swings to Test Gold Prices Amid US-Iran Tensions

Gold and silver prices are poised for a crucial week ahead of key market events. The US Federal Reserve's interest rate decision on July 29 will be closely watched, along with developments in the US-Iran conflict and oil price movements.

Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, noted that 'market sentiment will continue to be driven by developments in the US-Iran geopolitical situation, the direction of crude oil prices, and their impact on inflation expectations ahead of the US Federal Reserve's policy decision.'

Bullion prices saw sharp swings last week after Brent crude briefly reclaimed the $100-per-barrel mark. However, oil later retreated as investors booked profits, helping precious metals recover.