Gold prices edge higher in India amid US Fed outlook and Chinese retail trading curbs

Retail gold rates in India rose on July 27, with 24‑karat prices ranging around ₹14,585 per gram across major cities such as Mumbai, Delhi and Chennai. The increase came as the US dollar weakened after crude oil prices fell, and investors awaited the US Federal Reserve’s interest‑rate decision scheduled for July 29, which analysts expect to be a major driver for bullion markets.

In China, major banks including Industrial and Commercial Bank of China halted individual precious‑metals trading services linked to the Shanghai Gold Exchange on July 24. Despite speculation that the move would push investors toward physical gold and spike prices, spot gold settled only between $4,050 and $4,070 per ounce, with broader market forces—oil prices, US rates and the dollar—remaining dominant.