Archive · 30 Jul 2026
Fed Holds Rates, Gold and Silver Prices Volatile on MCX
The U.S. Federal Reserve decided not to change its interest rates, which made investors nervous.
Because of this, the prices of gold and silver on the Indian market went up and down a lot.
People are also waiting for U.S. inflation data and GDP numbers.
Meanwhile, the U.S. and Iran had a new conflict that made oil prices rise, which can make prices for many things go up.
This can make the Fed think about raising rates again.
Some experts say gold is a good way to protect against rising prices, but it can lose value when rates are high.
Traders are watching key price levels to decide when to buy or sell gold and silver.
U.S. Federal Reserve kept rates steady at 3.5%–3.75% on July 29, 2024.
MCX gold futures were near ₹1,41,856 per 10 grams; silver futures at ₹2,16,376 per kg.
The U.S. dollar index hovered around 101 and 10‑year bond yields rose to 4.68%.
Markets expect a 63% chance of a rate hike at the September Fed meeting.
U.S.–Iran tensions pushed oil prices near $90 per barrel, fueling inflation worries.
- Who
- US Federal Reserve, market participants, investors, gold and silver traders
- What
- Fed kept rates steady, gold and silver prices fluctuated on MCX, and markets awaited PCE and GDP data amid rising oil prices
- When
- July 29–30, 2024
- Where
- MCX (India), U.S. markets, global financial markets
- Why
- Fed decision, inflation concerns, oil price rise, geopolitical tensions between the U.S. and Iran
- Fed policy decision
- Rates held steady at 3.5%–3.75%
- MCX gold price
- ₹1,41,856 per 10 grams
- MCX silver price
- ₹2,16,376 per kg
- US dollar index
- ≈101
- 10‑year bond yield
- 4.68%
- Rate hike probability September
- 63%
- Oil price
- $90 per barrel