11:15 - 30.07.2026

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July 30, Fineko/abc.az. Gold prices are showing a moderate increase on Thursday, while investors assessed statements by US Federal Reserve (Fed) Chairman Kevin Worsh, regarding the fight against inflation. The Fed's decision to leave the interest rate unchanged keeps uncertainty around the regulator's further steps.

• Price dynamics: The spot price of gold rose by 0.3% to $4,076.29 per ounce. August gold futures in the U.S. rose by 1% up to $4,073.60 per ounce.

• Market reaction: Marex analyst Edward Meir noted that investors expected the Fed chief to give tougher signals on the need to raise rates: "The markets were counting on a more uncompromising stance on inflation. The absence of sharp rhetorical steps on his part has provided support to gold quotes."

According to the FedWatch tool from CME Group, the probability of a rate hike in September has decreased to 63% compared to 81% before the Fed meeting. The markets are waiting for the release of the June personal consumption expenditures (PCE) index data in the United States.

Geopolitics and the Oil Factor

The geopolitical tensions in the Middle East remain high: the US Armed Forces have launched new strikes on facilities in Iran. However, oil prices have recovered some of their previous gains due to the continued movement of tankers out of the region, which is holding back the explosive growth of defensive assets.

Analysts at TD Securities warn that if the pressure on oil prices continues throughout the summer, the price of gold could fall back to $3,900 per ounce.

Other precious metals:

• Silver (spot): up 0.4% to $57.86 per ounce.

• Palladium: up 1.5% to $1,264.49 per ounce.

• Platinum: down 0.6% to $1,602.34 per ounce.