India Gold Prices Drop Amid Global Economic Uncertainty Ahead of Fed Decision

Gold prices in India experienced a slight decline on July 28 as domestic bullion rates mirrored softer international prices. Market participants remained cautious ahead of the US Federal Reserve's policy decision, with fluctuations in the US dollar and global bond yields influencing investor sentiment.

The precious metal continued to attract buyers looking for a safe-haven investment amid global economic uncertainty, despite the dip in prices. Retail buyers and investors closely monitored the latest 18K, 22K, and 24K gold prices across major cities before making jewellery purchases or investment decisions.

Gold futures on the Multi Commodity Exchange (MCX) traded in a narrow range as investors awaited the outcome of the US Federal Reserve's policy meeting. Analysts expect gold prices to remain range-bound in the near term as markets assess interest rate signals, inflation trends, and the movement of the US dollar.

The latest market data shows that 24K gold is trading at ₹1,45,860 per 10 grams, while 22K and 18K gold are priced at ₹1,33,700 and ₹1,09,390 respectively. City-wise rates varied slightly, with Delhi and Mumbai seeing prices of ₹1,44,320 and ₹1,44,170 for 24K gold.