International News
Gold stable as Fed maintains data-driven stance AUGMONT BULLION REPORT
Supported by a declining dollar, gold extended its gains from the previous session to approximately $3325 (~Rs 96500) as investors continued to keep an eye on trade events and review the most recent FOMC minutes.
- The Fed’s June meeting minutes revealed disagreement among officials over the timing and scope of possible interest rate cuts.
- Views varied from supporting a reduction as early as July to favouring no cuts at all by year’s end, even though the majority expected some easing later this year.
- In the face of conflicting economic signals, such as tariff-related inflation threats, declining consumer spending, and a labour market that is nonetheless robust, the Fed remained cautious and data-driven.
Technical Triggers
- Gold continues to trade near the lower side of the range of $3300 (~Rs 96250) and $3400 (~Rs 98500). If prices sustain below $3280 (~Rs 96000), weakness could further extend to $3200 (~Rs 94000).
- Silver is not able to sustain above its range of $37.5 (~Rs 108,500) and $35.5 (~Rs 105,000). Consolidation continues before heading higher towards the next target is $38 (~Rs 110,000).
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $3280/oz | $3370/oz |
| Indian Gold | ₹96,000/10 gm | ₹97,700/10 gm |
| International Silver | $35.5/oz | $37.5/oz |
| Indian Silver | ₹1,05,000/kg | ₹1,10,000/kg |
International News
Global Bullion Markets Experience Downturn As US Fed Keeps Interest Rates Unchanged
Market Analysts Anticipate Continued Volatility In Precious Metals As Traders Digest The Fed’s Stance On Monetary Policy and Its Implications For Future Rate Trajectories
Global bullion markets experienced a downturn on Thursday as spot gold and silver prices each fell by nearly 1% following the U.S. Federal Reserve’s overnight decision to keep key interest rates unchanged. Domestic gold and silver prices in India are expected to reflect this global weakness throughout today’s trading session.
| Parameter | Details |
| Gold (MCX) Futures | ~₹1,43,600.00 – ₹1,43,724.00 per 10 grams |
| Silver (MCX) Futures | ~₹1,94,450.00 per kg |
| Key Contract Benchmark | December 2026 Gold Futures are hovering near ₹1,42,324 – ₹1,43,700 levels. |
| Spot Gold | Down ~1%, struggling around $4,044/oz. |
| Spot Silver | Down ~1%, trading below $53.50/oz. |
| U.S. Fed Policy Rate | Unchanged at 3.75% – 4.00%. |
In international markets, spot gold tumbled nearly 1% to trade near $4,044 per ounce, while spot silver dropped 1% to fall below $53.50 per ounce.
The market reaction follows the latest Federal Open Market Committee (FOMC) meeting, where policymakers voted to maintain the target range for the federal funds rate at 3.75% to 4.00% (3-3/4 to 4 percent).
In an official statement, the FOMC reaffirmed its commitment to supporting its dual mandate of maximum employment and price stability while continuing its policy of maintaining ample reserves within the banking system.
​Market analysts anticipate continued volatility in precious metals as traders digest the Fed’s stance on monetary policy and its implications for future rate trajectories.
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