Archive · 28 Jul 2026
Gold and Silver Prices Drop on MCX
Gold and silver prices fell by up to 1% on the MCX on Tuesday, 28 July.
This drop is because traders are taking profits before the US Federal Reserve makes a decision on interest rates.
The Fed is expected to keep rates between 3.50% and 3.75%.
Additionally, tensions between the US and Iran have eased, which usually makes people less interested in buying gold as a safe investment.
Traders are also watching for more information from the Fed and important economic data like US GDP and inflation numbers.
Gold and silver prices dropped up to 1% on MCX on 28 July.
The drop is due to profit booking ahead of the US Fed policy decision.
Easing geopolitical tensions reduced safe-haven demand for gold.
The US Fed is expected to keep benchmark rates unchanged at 3.50%-3.75%.
Traders are monitoring Fed Chair Kevin Warsh’s comments and US GDP and PCE inflation data.
- Who
- Market traders and investors
- What
- Gold and silver prices dropped up to 1% on MCX
- When
- 28 July
- Where
- MCX (Multi Commodity Exchange)
- Why
- Due to profit booking ahead of the US Fed policy decision and easing geopolitical tensions
Market Traders
Investors
Profit Booking
Market Traders
Traders are booking profits ahead of the US Fed policy decision.
Investors
Investors are cautious due to the uncertainty in the market.
- Date
- 28 July
- Market
- MCX
- US Fed Policy Decision
- 29 July
- Expected Benchmark Rates
- 3.50%-3.75%
- Key Data to Watch
- US GDP and PCE inflation data
- US Dollar Index
- 101.5
- Comex Gold Futures
- $4,011 per troy ounce
- Comex Silver Futures
- $56.86 per troy ounce
