Gold Price Prediction Today: Check Gold Price In India On July 21, Yellow Metal Rises On MCX | Check Bullion Rates In Your City

International Gold Prices

US spot gold held its ground at $3,352.19 per ounce, as of 0250 GMT. U.S. gold futures were steady at $3,358.70.

Investors are eyeing developments in trade negotiations ahead of U.S. President Donald Trump’s August 1 deadline, as U.S. Commerce Secretary Howard Lutnick remains optimistic about reaching a deal with the European Union.

Trump might visit China before going to the Asia-Pacific Economic Cooperation summit between October 30 and November 1, or he could meet Chinese leader Xi Jinping on the sidelines of the APEC event in South Korea, reports said.

At its meeting later this week, the European Central Bank is expected to hold interest rates steady at 2.0% following a string of cuts.

Last week, Federal Reserve Governor Christopher Waller said he still believes that the U.S. central bank should cut rates at its policy meeting next week.

Gold, often considered a safe-haven asset during economic uncertainties, tends to do well in a low interest rate environment.

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.