Gold up as India-US trade deal delayed : July 29, 2025
Today’s gold price: The continued uncertainty around the India-US trade deal has caused gold and silver prices to rise in the local futures market, increasing the appeal of safe-haven assets. But the gains were constrained by a sluggish demand and a stable dollar.
Today’s gold price: As a result of ongoing uncertainty around a trade agreement between the US and India, which deterred investors from riskier stocks and made safe-haven assets more appealing, gold and silver prices surged in the local futures market Tuesday morning, July 29.
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However, the gains were constrained by a weak spot demand and a stable dollar. Around 9:10 AM, MCX Silver contracts for September 5 were up 0.18 percent at ₹1,13,260 per kg, while MCX Gold contracts for August 5 were up 0.07 percent at ₹97618 per 10 grams.
The demand for gold was impacted by the dollar index, which increased by 0.10 percent and remained positive.
On Sunday, the United States inked a trade pact with the European Union (EU), another major economy, after concluding a deal with Japan.
In addition, there will probably be a three-month extension of the US-China tariff and export control accord.
Gold prices will keep responding to news reports about Trump’s trade agreements and tariffs.
On July 30, the US Federal Reserve will make its policy announcement.
Bullion traders will pay close attention to Fed Chair Jerome Powell’s remarks regarding inflation and growth,even though it is generally anticipated that the central bank would maintain rates at their current level.
