Commodities

Gold Futures Plummet 1% Ahead of Fed Decision

Guavy AI Editorial Team Published July 28, 2026

Instruments

Oil Gold

Gold futures fell by nearly 1% to Rs 1.41 lakh per 10 grams on Tuesday, following losses in global markets and caution ahead of the US Federal Reserve's monetary policy decision.

The Multi Commodity Exchange saw yellow metal contracts for August delivery trade lower by Rs 1,213, or 0.85%, at Rs 1,41,850 per 10 grams in a business turnover of 759 lots.

Traders attributed the decline to weak global sentiment as market participants refrained from taking fresh positions ahead of the Fed's policy outcome on July 29.

Gaurav Garg, Research Analyst at Lemonn Markets Desk, noted that 'a strong US dollar and cautious investors' sentiment ahead of the Federal Reserve's monetary policy decision also weighed on the precious metal.'

However, losses in gold were capped after US President Donald Trump hinted at 'good talks' with Iran, raising hopes of a diplomatic resolution and pushing oil prices lower.

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