Gold Prices Rise Amid Stronger Dollar and Unchanged Interest Rates

Gold prices on MCX saw a slight increase on July 30, despite a stronger US dollar and higher 10-year Treasury yields. The US Federal Reserve's decision to keep interest rates unchanged contributed to gold's rise.

August gold futures rose 0.26% to Rs. 1,42,150, while September silver futures fell 0.59% to Rs. 2,16,200. Brent crude futures declined 1.14% to $89.71 per barrel, and US West Texas Intermediate (WTI) edged lower by 0.81% to $83.78 per barrel.

According to the CME FedWatch Tool, traders now expect a 63% chance of a September rate hike, down from 81% before the US Federal Reserve's policy decision.