India's Gold Prices Remain Steady Amid Global Volatility

Gold prices in India remained steady on August 2 as retail buyers and investors monitored domestic bullion rates following a volatile week in the global precious metals market.

The US dollar's strength led to a decline in international gold prices, but the yellow metal still posted its first monthly gain in five months due to easing inflation concerns and continued demand for safe-haven assets.

Investors are closely watching global economic data and expectations surrounding the US Federal Reserve's next policy move for fresh direction.

The Multi Commodity Exchange (MCX) remained under pressure after international bullion prices declined at the end of the previous week, with spot gold falling to around $4,049.83 per ounce and US gold futures trading near $4,107 per ounce.