Archive · 29 Jul 2026
Gold, silver prices fluctuate ahead of US Fed decision
Gold and silver prices are going up and down because everyone is waiting for the US Federal Reserve to make a big decision about interest rates.
The Fed is expected to keep rates the same for now, but there are worries that prices might go up later because of problems in the Middle East.
This could make the Fed raise rates in the future, which would make gold less attractive because it doesn't pay interest.
The dollar is a little weaker, and the price of US government bonds is a bit higher.
Other big banks, like the Bank of England and the Bank of Japan, might also keep their rates the same soon.
Gold prices down 0.21% at ₹1,41,331 per 10 grams on MCX.
Silver prices up 0.34% at ₹2,16,577 per kg on MCX.
US Fed decision expected at 11:30 PM IST, with markets pricing in a 76% chance of a September rate hike.
Renewed inflation concerns due to Middle East tensions may prompt future rate hikes.
Dollar index eased by 0.10% to 101.30, while US 10-year bond yield climbed to 4.61%.
- Who
- US Federal Reserve, Bank of England, Bank of Japan
- What
- Gold and silver prices fluctuating ahead of US Fed decision
- When
- 29 July 2024
- Where
- Global markets, with a focus on the US
- Why
- Market caution ahead of the US Federal Reserve's monetary policy decision and renewed inflation concerns due to Middle East tensions
Market Optimism
Inflation Concerns
Interest Rate Expectations
Market Optimism
Markets expect the Fed to keep interest rates unchanged, which is positive for gold prices.
Inflation Concerns
Renewed inflation concerns due to Middle East tensions may prompt the Fed to hike rates in September and December, negatively impacting gold prices.
- MCX Gold August Contracts
- ₹1,41,331 per 10 grams
- MCX Silver September Futures
- ₹2,16,577 per kg
- US Fed Policy Decision
- Due at 11:30 PM IST
- Fed Chair Kevin Warsh's Comments
- Scheduled for 12:00 AM IST
- Chance of September Rate Hike
- 76%
- Chance of 25-basis-point Rate Hike on 29 July
- 30%
- Dollar Index
- 101.30
- US 10-year Bond Yield
- 4.61%