Gold and silver prices were volatile on the MCX on Thursday (30 July) morning amid an uptick in the US dollar and 10-year bond yields after the US Federal Reserve maintained rates steady.
MCX gold August futures were almost flat at ₹1,41,856 per 10 grams, while MCX silver September futures were 0.51% down at ₹2,16,376 per kg around 9:05 AM.
The US Fed kept the federal funds rate steady in a target range between 3.5% and 3.75% for the fifth consecutive policy on 29 July. However, three of the 12 policymakers dissented with a unified view of hiking rates by 25 basis points.
Chairman Kevin Warsh reiterated the central bank’s commitment to bring inflation back to the 2% target.
Market participants see a chance of a rate hike at the upcoming September meeting.
Investors are also awaiting June’s U.S. Personal Consumption Expenditure (PCE) data and the advance estimate of Q2 2026 GDP, due later today (30 July).
On the geopolitical front, the US military began fresh strikes on Iran on Wednesday (local time), marking its first attacks since 24 July. The strikes against Tehran were launched in retaliation for an Iranian missile attack targeting a US base in Jordan a day earlier.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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