coin-img-ETHETH+3.50%coin-img-BTCBTC+1.10%coin-img-SOLSOL+2.17%coin-img-XRPXRP+0.58%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE+0.34%coin-img-HYPEHYPE+1.86%coin-img-TRXTRX+0.09%coin-img-ETHETH+3.50%coin-img-BTCBTC+1.10%coin-img-SOLSOL+2.17%coin-img-XRPXRP+0.58%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE+0.34%coin-img-HYPEHYPE+1.86%coin-img-TRXTRX+0.09%coin-img-ETHETH+3.50%coin-img-BTCBTC+1.10%coin-img-SOLSOL+2.17%coin-img-XRPXRP+0.58%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE+0.34%coin-img-HYPEHYPE+1.86%coin-img-TRXTRX+0.09%coin-img-ETHETH+3.50%coin-img-BTCBTC+1.10%coin-img-SOLSOL+2.17%coin-img-XRPXRP+0.58%coin-img-USDCUSDC+0.00%coin-img-DOGEDOGE+0.34%coin-img-HYPEHYPE+1.86%coin-img-TRXTRX+0.09%
user-avatar
The Economic Times

Fed’s July 29 decision and oil volatility put gold at $4,070.8/oz and silver at $58.90/oz in focus

AI Market Summary
Gold and silver rallied as West Asia shipping risks and US-Iran tensions lifted oil and inflation hedging demand ahead of the July 29 Fed decision. Brent's brief spike above $100 heightened supply-disruption concerns, while upcoming US PCE, confidence, and jobless claims could shift rate expectations and real yields. Ongoing PBoC gold accumulation adds an official-demand backstop, keeping bullion sensitive to macro and geopolitical headlines.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT+0.80%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
Trade now
⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.
Gold and silver posted sharp gains this week, with Comex August gold up 1.3% to USD 4,070.8 per ounce and September silver nearly 5% higher at USD 58.90 per ounce, while India’s gold price rose 1.6%. Prices were supported after Brent crude briefly moved back above USD 100 per barrel following Houthi strikes on Saudi-owned vessels, alongside rising US-Iran tensions and the approaching July 29 Federal Reserve policy meeting, lifting safe-haven and inflation-hedge demand. China’s central bank also continued buying gold in May, adding to official-sector support.
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.
Geopolitics

Risk Warning

Cryptocurrencies and their derivatives are innovative financial products with great volatility and high investment risks.

Although BingX is committed to providing users with easy-to-use trading tools, trading itself is still a highly sophisticated field. Trading digital assets and their derivatives are subject to high market risk and price volatility and may result in partial or total loss of account funds. You must carefully consider and exercise clear judgment to evaluate your financial situation and the aforementioned risks before using BingX Services. You shall be responsible for all losses arising therefrom. If necessary, please consult relevant professionals to make informed decisions before investing. By accessing, downloading, using or clicking on "I agree" to accept any BingX Services provided by BingX, you agree that you have read, understood and accepted all of the terms and conditions stipulated in BingX Terms of Use as well as our Privacy Policy.


Trading by copying or replicating the trades of other traders involves a high level of risks, even when copying or replicating the top-performing traders. Past performance of a BingX community member is not a reliable indicator of his future performance. Content on BingX's trading platform is generated by members of its community and does not contain advice or recommendations by or on behalf of BingX.