Results of FOMC July meeting: Ahead of the FOMC July meeting outcome, Gold October futures contracts at MCX were trading higher by Rs 358 or 0.36% at Rs 99,477/10 grams after settling positively in the previous trading session. However, in the last one week, the prices of yellow metal have fallen by Rs 1,861, from their all-time high levels.
Fed monetary policy outlook
Federal Reserve is expected to leave the policy rate unchanged for the fourth consecutive meeting
The United States (US) Federal Reserve (Fed) will announce monetary policy decisions and publish the revised Summary of Economic Projections (SEP), the so-called dot plot, following the June policy meeting on Wednesday.
Central banks intend to continue buying gold reserves
Central banks have gobbled up over 1,000 tonnes of gold for three straight years, and most central bankers think the buying trend will continue.
Gold price looks to high-impact US data flow
The first look of the US annualised GDP is expected to show a 0.4% growth in Q1 2025, down from a robust 2.4% expansion in the final quarter of 2024. Goldman Sachs economists expect a negative 0.2% growth.
Gold investors are assessing the Fed interest rate scenario
Gold prices held steady in Asian trading on Monday after modest gains last week as the dollar remained near a four-month low amid uncertainties around U.S. trade policies.