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Gold Prices Steady Ahead of Fed Rate Decision Amid Weakening Dollar

Guavy AI Editorial Team Published July 30, 2026

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Oil Gold

Gold prices remained steady on July 29, trading around $4.040 per ounce as investors waited for the Federal Reserve's interest rate decision.

The US dollar weakened, which helped support gold prices, but market sentiment was cautious due to new signals about inflation and interest rates.

Oil prices surged sharply after data showed that US crude oil inventories fell, raising expectations of a tighter supply.

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