India Gold Prices Rise as Dollar Declines Ahead of RBI Policy Decision

Gold and silver prices in India climbed on Wednesday morning as the US dollar declined by about 0.10% to 99.77, making greenback-denominated bullion slightly cheaper for buyers in other currencies.

The Reserve Bank of India (RBI) is expected to announce its policy decision at 10 AM on 5 August, with market participants and economists largely expecting the RBI to maintain the repo rate at 5.25%.

According to Harshal Dasani, Business Head, INVasset PMS, the key takeaway from the RBI's August monetary policy is unlikely to be the interest rate decision, but rather the central bank's commentary on inflation, liquidity conditions and the broader macroeconomic outlook amid heightened global uncertainty.