Gold prices edged lower on Tuesday, pressured by a stronger dollar, while markets looked to the Federal Reserve's upcoming policy decision for clues on the interest rate outlook.
July 28, 2026 / 08:13 IST
Crude Oil
Commodity markets traded mixed on July 28, with oil prices falling sharply on easing geopolitical tensions, while gold edged lower as a stronger US dollar and caution ahead of the Federal Reserve's policy decision weighed on sentiment.
Oil prices tumbled after the US and Iran shifted from military strikes to diplomatic engagement, easing immediate supply concerns. Meanwhile, investors remained focused on a busy week of Big Tech earnings and the Fed's interest rate decision.
Gold prices edged lower on Tuesday, pressured by a stronger dollar, while markets looked to the Federal Reserve's upcoming policy decision for clues on the interest rate outlook.
Gold prices slipped 0.5% to $4,056.03 per ounce, while US gold futures for August delivery fell 0.5% to $4,056.70. Silver declined 0.3% to $58.19 an ounce, with platinum and palladium also trading lower.
The US dollar hovered near a one-month high as markets assessed the possibility of a Federal Reserve rate hike, although weaker oil prices helped ease inflation concerns.
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