Gold Rate Today, July 26: Yellow Metal Falls For 3rd Day | Check Rates In Your City

Global Cues For Gold

US spot gold (comex) was down 1.12% at $3,392.50 per ounce on Friday.

The European Union and the United States now appear to be heading towards a possible trade deal, according to EU diplomats, which would result in a broad 15% tariff on EU goods imported into the US, mirroring a framework agreement Washington struck with Japan.

The S&P 500 and the Nasdaq notched record closing highs overnight as signs of easing global trade tensions lifted risk sentiment among investors.

Offering respite to gold, the US dollar index was headed for its worst week in a month, making greenback-priced gold less expensive for other currency holders.

Data showed US jobless claims unexpectedly fell last week, signalling a steady labour market despite sluggish hiring making it harder for the unemployed to find work.

The Federal Reserve is also widely expected to leave rates unchanged at its July 29-30 meeting, but markets continue to price in a potential rate cut in September.

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.