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Commodity News Details
Gold steadies near $4,050 as Fed verdict takes centre stage
29-Jul-2026 14:56
Gold futures remained subdued below the $4,050-an-ounce mark on Wednesday, extending the previous session's consolidation as rebounding crude oil prices rekindled inflation concerns and kept investors cautious ahead of the Federal Reserve's policy decision. Renewed geopolitical tensions in the Middle East also lent support to a risk-sensitive market backdrop. Meanwhile, the U.S. dollar index held steady near 101.1, with markets widely expecting the Fed to keep interest rates unchanged, although lingering expectations of a possible rate hike continued to underscore policy uncertainty. Reflecting the muted global trend, MCX August gold futures traded largely unchanged at around ₹1,41,650 per 10 grams.

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