Gold Prices in India Hold Steady Amid Fed Pause
Gold prices in India remained stable on July 30 as investors reacted to the US Federal Reserve's decision to keep interest rates unchanged. The precious metal also benefited from persistent geopolitical uncertainty and expectations that central banks will continue buying gold.
The Multi Commodity Exchange (MCX) saw gold futures trade within a narrow range, with analysts predicting they would remain between ₹1.38 lakh and ₹1.44 lakh per 10 grams in the near term. Meanwhile, COMEX gold is expected to trade between $3,950 and $4,125 per ounce.
Retail buyers continued to track daily changes in jewellery prices before making purchases, while traders monitored global bullion prices and the movement of the US dollar for fresh market direction. Despite international price volatility, domestic gold rates remained relatively stable across major Indian cities.