Overview

• Gold is consolidating around $3,330–$3,340 per ounce and ₹98,000–₹100,000 per 10 grams as traders pause for policy updates.
• MCX October gold futures dropped 2.74 percent to ₹98,764 per 10 grams after peaking near ₹1,01,543 earlier this month.
• Comex August gold futures slipped 1.12 percent to close at $3,335.60, weighed down by improved risk sentiment from US-EU and US-Japan trade deals.
• Investors are awaiting the July 30 FOMC meeting, Bank of Japan rate announcement and key US economic data to gauge future safe-haven demand.
• A Reuters poll raised the median 2025 gold forecast to $3,220 per ounce as central banks continue diversifying reserves.