MCX Gold Prices Fall Amidst Caution Ahead of US Federal Reserve Meeting
Gold prices on MCX declined by 0.25% to Rs. 1,41,275 on July 29, amidst caution ahead of the US Federal Reserve's monetary policy decision. The August gold futures fell to this level as investors await the Fed's announcement and comments from Chair Kevin Warsh for clues on inflation and interest rates.
The MCX saw a decrease in 24K gold prices by Rs. 86 to Rs. 1,43,510 per 10 grams, while 22K gold declined by Rs. 60 to Rs. 1,31,550. Mumbai and Kolkata mirrored the same price at Rs. 1,43,510, with Delhi at Rs. 1,43,660 and Chennai at Rs. 1,43,510.
US gold prices were largely steady on Wednesday as investors awaited the Fed's policy decision. Spot gold was little changed at $4,029.08 per ounce, while US gold futures for August delivery dipped 0.2% to $4,028.10.