Gold Prices Surge as US Federal Reserve Keeps Interest Rates Unchanged

Gold prices surged on July 30 after the US Federal Reserve's decision to keep interest rates unchanged. The international spot gold price rose by 0.61% to $4,060.90 per ounce, while silver increased by 0.06% to $58.12 per ounce.

The domestic MCX gold futures also saw a slight increase of 0.19%, closing at Rs 1,42,050 per 10 grams for the August contract. Analysts predict that MCX gold will trade in the range of Rs 1,38,000-1,44,000.

The US Federal Reserve's decision is likely to have a significant impact on global markets, with many expecting a rate cut in the near future. However, for now, the stability of interest rates has led to a slight increase in gold prices.