Gold Prices Firm in India Amid Fed Pause and Geopolitical Uncertainty

Gold prices in India remained firm on July 30 as investors digested the US Federal Reserve's decision to keep interest rates unchanged. The precious metal also found support from persistent geopolitical uncertainty and expectations that central banks will continue buying gold, helping bullion remain near historically elevated levels.

The Multi Commodity Exchange (MCX) gold futures traded in a narrow range on July 30 as investors evaluated the Federal Reserve's policy outlook. Analysts expect MCX gold to remain within the ₹1.38 lakh, ₹1.44 lakh per 10 grams range in the near term.

Despite mixed global cues, domestic gold rates remained relatively stable across major Indian cities. Retail buyers continued to track daily changes in jewellery prices before making purchases, while traders monitored the MCX, global bullion prices and the movement of the US dollar for fresh market direction.