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Commodities

Gold Futures Prices Dip Ahead of Fed Policy Decision

Guavy AI Editorial Team
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Gold
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Gold futures prices fell by nearly 1% on Tuesday to Rs 1.41 lakh per 10 grams, 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 trading lower by Rs 1,213, or 0.85%, at Rs 1,41,850 per 10 grams in a business turnover of 759 lots.

According to Gaurav Garg, Research Analyst at Lemonn Markets Desk, the fall mirrored weak global sentiment as market participants refrained from taking fresh positions ahead of the Fed's policy outcome on July 29.

A strong US dollar and cautious investors' sentiment also weighed on the precious metal, Garg added.

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