Gold Prices in India Rise Amid Firm Global Bullion

Gold prices in India rose significantly on July 30, as international spot gold traded around $4,080-$4,110 per ounce. The US Federal Reserve kept interest rates unchanged at 3.50%-3.75%, supporting bullion prices.

The MCX Gold (August Contract) fell by 0.13% to ₹1,41,600 per 10 grams, while the COMEX Gold Futures traded near $4,031.70 per ounce. Despite this decline in futures, domestic retail gold prices remained higher due to firm global bullion prices.

The prices of gold and silver saw some profits being booked due to gains in recent days, despite the safe-haven demand remaining intact. The reason is that investors are trying to find a balance between geopolitical tensions and their hopes of the US Fed continuing to maintain a tightened monetary policy for a longer time.