Gold prices are on the rise today, Wednesday, July 30, 2025, buoyed by a weaker dollar and softer Treasury yields. All eyes are now on the US Federal Reserve’s (Fed) decision later today, which is expected to provide further direction for the market.
Gold Prices in India
Here’s a look at gold prices in India for 10 grams, as per GoodReturns and other sources for today’s rates:
- 24 Karat Gold: Around ₹1,00,480 – ₹1,01,304.43
- 22 Karat Gold: ₹92,100 – ₹92,720.39
- 18 Karat Gold: ₹75,360 – ₹75,978.32
Global Gold Prices
Globally, spot gold has edged up 0.1% to $3,328.65 per ounce, while US gold futures also gained 0.1% to $3,326.10 per ounce.
Key Factors Influencing Gold Prices
- Weak Dollar & Softer Treasury Yields: A weaker dollar makes gold more affordable for international buyers, and lower Treasury yields reduce the appeal of holding interest-bearing assets over non-yielding gold.
- Anticipation of Fed’s Decision: The market is widely expecting the Fed to maintain current interest rates. However, whispers of a potential rate cut in September are circulating. A dovish stance from the Fed, or any indication of future rate cuts, typically supports gold prices by making it a more attractive investment.
- Market Consolidation: Experts, including Aksha Kamboj from India Bullion and Jewellers Association, note that the bullion market is in a “consolidation mode” ahead of the FOMC policy announcement. A dovish outcome could help stabilize or even boost prices as market uncertainties clear.
- Technical Support & Resistance: Rahul Kalantri, VP Commodities at Mehta Equities Ltd., points out key levels:
- Global Support: $3,300–3,280 an ounce
- Global Resistance: $3,345–3,363 an ounce
- Indian Rupee Support: ₹97,880–97,450 per 10 grams
- Indian Rupee Resistance: ₹98,550–98,760 per 10 grams
- Recent Economic Data: Weaker US job data, coupled with a softer rupee, has also contributed to gold’s recent rebound from lower levels.
What’s Next for Investors?
Investors are now keenly awaiting the Fed’s policy decision, set to be announced later today (2 p.m. ET, with a press conference at 2:30 p.m. ET). Beyond that, upcoming US inflation data (CPI on August 12) and jobs reports (Employment Situation for July on August 1) will be crucial in shaping gold’s future trajectory.