Gold steadies near $4,040 as Fed holds rates, inflation data awaited
Gold prices slipped to just above $4,040 per ounce on 29 October after briefly reaching $4,076, as the U. S. Federal Reserve kept interest rates unchanged, prompting investors to await the forthcoming U. S. inflation figures. The decline followed a sharp fall earlier in the month, with the India Bullion and Jewellers Association reporting 24-carat gold at ₹1.
42 lakh per 10 grams and Livemint noting a 21 % drop from the January 2026 peak on the MCX. By 26 October, domestic gold and silver rates in major Indian cities rose modestly, even as international spot gold slipped below $4,000. Silver also slid more than 2 % on the MCX amid a stronger dollar and mixed Fed signals, according to Livemint. NDTV Profit said gold was trading near Rs 1. 43 lakh per 10 grams, about 20 % below its January level, as markets watched the Fed’s decision.
