Gold prices once again surged on July 30, 2025. While the gold rate showed no significant movement at the start of the day, prices quietly climbed upwards as the day progressed. Investors are currently focused on the US Federal Reserve's two-day meeting and its policies, which are directly impacting the movement of gold.
At the start of trading, spot gold remained stable at around $3,329.19 per ounce, but prices rose as foreign signals changed. Gold on COMEX also saw an increase of 0.13 percent, reaching $3,328.40 per ounce.
Investor Caution Ahead of Federal Reserve Meeting Impacts Gold
The US central bank, the Federal Reserve, is holding its two-day meeting this week. Investors expect the bank to refrain from making any major decisions regarding interest rates at this meeting. However, future actions will depend on the statement issued. As such, investors are currently avoiding large deals.
This caution was clearly reflected in gold prices. There was activity in the market, but no one was willing to take risks. This is why gold initially remained stable, but as soon as slight signals emerged from the global market, gold began to rise.
Dollar Strengthens, But Gold Maintains Grip
The US dollar is currently at a one-month high, which is generally considered negative for gold. However, gold has still shown strength. This is because the market anticipates potential interest rate cuts in the future, which could increase demand for gold again.
If gold is becoming more expensive despite the b dollar, it directly implies that the market is currently uncertain. People are looking for safe investments, and gold has always been considered such a medium.
US-China Talks Bring Relief, But Trump's Threat Increases Concerns
The meeting between US and Chinese officials in Stockholm provided some relief. Both countries have agreed to extend the 90-day tariff truce. However, the matter is not entirely resolved. US officials say that the final decision will be made by President Trump, and if he reimposes tariffs after August 12, it could cause turmoil in the global market.
Trump also warned Russia on Tuesday that if progress is not made in ending the Ukraine war, tariffs and other stringent measures will be implemented in 10 days. Such threats have increased unease in the markets and have also affected the demand for gold.
IMF Estimates Global Demand is Stronger Than Expected
On Tuesday, the International Monetary Fund (IMF) slightly increased its global economic growth forecast for 2025 and 2026. The IMF says that a potential decline in tariffs and b demand in the market have supported global growth.
The IMF also stated that the effective tariff rate may decline, from a previous 24.4 percent to an expected 17.3 percent. This statement provided some relief to the market, but investor uncertainty will remain until the policy is clear.
Status of Other Metals – Performance of Silver and Platinum
While gold prices rose, the condition of other precious metals was mixed. Spot silver remained stable at $38.20 per ounce, while silver on COMEX rose by 0.06 percent to reach $38.31 per ounce.
Platinum saw a decline and closed 0.4 percent lower at $1,389.20 per ounce. Meanwhile, palladium prices remained unchanged and stable at $1,258.75 per ounce.
What Was the Impact on the Indian Market?
India also saw a slight increase in gold prices. In major cities, the prices of 24-carat gold increased by a few rupees per 10 grams. However, an increase or decrease may be seen in the coming days, following US market policies and the movement of the dollar index.
Traders say that demand for gold will gradually increase as the festive season approaches. But for now, the market is a bit sluggish due to international decisions.
