Gold and silver prices fell up to 1% in early deals on the MCX on Tuesday, 28 July, mirroring weak global cues.
In international markets, US gold prices traded lower as easing geopolitical tensions following the US and Iran’s pause in retaliatory strikes reduced safe-haven demand.
The focus is also on the US Federal Reserve policy decision on 29 July. The US central bank is widely expected to keep benchmark rates unchanged in the 3.50%-3.75% range.
Traders will closely monitor Fed Chair Kevin Warsh’s comments, along with this week’s US GDP and PCE inflation data, for fresh cues on the interest rate trajectory.
(This is a developing story. Please check back for fresh updates.)
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