Gold, Silver Prices Today, July 24: Precious Metals Fall On MCX | Check Rates In Your City

International Gold Prices

US spot gold was flat at $3,387.15 per ounce, as of 0138 GMT, after dropping 1.3% in the previous session. US gold futures eased 0.1% to $3,492.50.

Signalling progress on tariffs, US President Donald Trump struck a trade deal with Japan that lowers tariffs on auto imports.

The European Union and the United States are nearing an agreement on a similar trade deal that would impose 15% tariffs on European imports, while waiving duties on some items, according to officials from the European Commission.

Risk sentiment in the wider financial markets rose on the back of progress in trade talks and hopes that more deals could be in the offering.

Offering support to gold, the U.S. dollar index fell to a more than two-week low, making greenback-priced bullion less expensive for other currency holders.

Investors also look forward to a rate decision from the European Central Bank due later in the day.

Also on the radar, the US weekly jobless claims numbers on Thursday and S&P Global’s flash PMI data will be eyed to gauge economic health ahead of the Federal Reserve’s monetary policy decision next week.

What Factors Affect Gold Prices In India?

International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country.

In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals.

With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.