Gold (XAU/USD) trims gains after opening the week with a bullish gap as buyers lack conviction amid conflicting US-Iran headlines and caution ahead of key US employment data. At the time of writing, XAU/USD trades around $4,036, easing from an intraday high of $4,084.
Aluminium Price Outlook 2026: Recovery After Correction as Supply Risks Grow
Aluminium Price Outlook 2026: After scaling a record high of around ₹393 per kg on the MCX during the first week of June, aluminium prices witnessed a healthy correction to nearly ₹330 per kg amid profit-booking and easing concerns over immediate supply disruptions. A similar price action has witnessed on the key global markets as well. However, the metal is once again showing signs of strength, with prices attempting to break through the important resistance zones.
Federal Reserve Expected to Hold Interest Rates as Hike Pressure Builds
The US Federal Reserve is widely expected to leave its key interest rates unchanged in its upcoming policy meeting. While inflation has eased compared to previous years, some experts believe the central bank may need to consider another rate hike if price pressures increase again.
Gold and Silver Prices Drop Up to 1% on MCX Ahead of US Fed Policy Decision
Gold and silver prices fell up to 1% in early deals on the MCX on Tuesday, 28 July 2026, mirroring weak global cues. Precious metals witnessed profit-taking as the dollar index hovered near 101.5 ahead of the US Federal Reserve’s monetary policy decision on 29 July 2026.
Goldman Sachs Highlights China’s Secret Gold Reserve Expansion
Goldman Sachs has picked up on the fact that China is expanding its gold reserves far faster than the official data indicates.