Gold & Silver Rates Today (29/07/2026) LIVE: MCX Gold Down, Silver Jumps Rs 1,000 Ahead Of Fed Policy Outcomes

Gold rates and silver rates in India are likely to be volatile due to mixed trend in global bullion market on July 29, 2026. On Wednesday, spot gold traded cautiously with mild corrections to around $4,026 per ounce, on the other hand, spot silver surged nearly 1% but held below $57.50 per ounce. This is due to sharp surge in crude oil prices, where, Brent Crude and US WTI Crude Oil are up 4% each to trade above $87 per barrel and $82 per barrel.

Following this, in the early trade, MCX gold struggled around Rs 1,41,500 per 10 grams, while MCX silver surged to hold above Rs 2,16,700 per 1Kg level. But it was the MCX crude oil price that skyrocketed by over 4.3%, tracking surge in US WTI Crude and Brent Crude. Copper, Natural Gas, and Zinc were also in red, while Lead traded higher.

The US military said it had successfully intercepted what it described as a surprise Iranian attack targeting US troops stationed across the Middle East. Investors also awaited the Federal Reserve's policy decision, where it is expected to leave interest rates unchanged. However, markets continue to price in about a one-third chance of a rate hike, reflecting an unusually high level of uncertainty this close to a policy announcement despite repeated calls from President Donald Trump for lower interest rates, as per Trading Economics.

Apart from West Asia conflict, the biggest trend setter for bullion market is the upcoming US Federal Reserve's rates decision which will be announced in the late hours of July 29th. Market is anticipating Fed to keep rates unchanged, with a probability of 80% on rate hike in September policy due to elevated crude oil prices and inflationary pressure, which is good for dollar but unappealing for safe haven assets like gold.

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Jul 29, 2026, 10:04 am IST

Live Gold Silver Rates Today: How Does Fed Policy Impact Bullion?

Spot gold and silver saw renewed declined yesterday, slipping to ,030 and respectively, as the dollar surged to a fresh one-month high of 101.57 ahead of Wednesday's Federal Reserve decision. A firmer dollar continues to weigh directly on bullion, and today's softness comes despite lower oil prices, underscoring how dollar strength and rate positioning are currently the dominant forces over the energy markets. Lingering uncertainty around the durability of the US-Iran de-escalation added a layer of caution, with Trump saying Monday that talks with Iran were progressing but warning that strikes would resume if negotiations failed to deliver. On Monday, gold and silver had ended modestly higher after the pause in US-Iran hostilities pushed crude to a one-week low, easing inflation concerns ahead of the Fed meeting. Those gains faded as the dollar recovered above 101.5 and Fed positioning stayed in focus. CME FedWatch now shows a 34% probability of a 25-bps July hike, with September odds near 80%, keeping the rate path the main driver for bullion into Wednesday’s decision: Kaynat Chainwala, AVP Commodity Research, Kotak Securities.

Jul 29, 2026, 9:27 am IST

Live Gold Silver Rates Today: Precious Metals Mixed Trend, Crude Oil Top Gainer On MCX

In the early trade, MCX gold struggled around Rs 1,41,500 per 10 grams, while MCX silver surged to hold above Rs 2,16,700 per 1Kg level. But it was the MCX crude oil price that skyrocketed by over 4.3%, tracking surge in US WTI Crude and Brent Crude. Copper, Natural Gas, and Zinc were also in red, while Lead traded higher.

Jul 29, 2026, 9:24 am IST

Live Silver Rates Today: MCX Silver Price Jumps Nearly Rs 1,000 In Early Trade

Unlike gold, MCX silver price traded higher by nearly Rs 1,000 to around Rs 2,16,700 per 1Kg. This is due to surge in spot silver price which was up by 1% in the early hours of Wednesday despite surge in crude oil prices.

Jul 29, 2026, 9:22 am IST

Live Gold Rates Today: MCX Gold Trades Lower In Opening Bell

MCX gold price traded lower in the opening bell on July 29, ahead of the Fed policy outcomes. At the time of writing, MCX gold futures with August 5 expiry date, traded at Rs 1,41,381 per 10 grams, down by Rs 242 or 0.17%.