Indian Gold Prices Decline Amid Stronger Dollar and Fed Caution

Gold prices in India remained under pressure on July 29 as domestic bullion rates tracked mixed global cues ahead of the US Federal Reserve's policy decision. The stronger US dollar limited gains in bullion, while investors turned cautious amid expectations that the Fed could keep interest rates unchanged.

Futures prices witnessed volatility, but physical gold continued to trade at elevated levels across major Indian cities. Retail buyers and investors remained focused on the latest 18K, 22K, and 24K gold rates, while traders watched MCX gold futures for further direction.

Gold futures on the Multi Commodity Exchange (MCX) traded lower during Tuesday's session as investors turned cautious ahead of the US Federal Reserve's monetary policy announcement. Globally, spot gold rose 0.3% to around $4,040.63 per ounce, supported by a softer dollar.