Gold prices stayed flat on Monday (July 21) as global investors wait for fresh triggers. Spot gold traded at $3,352.19 per ounce at 2:50 AM GMT.US gold futures held steady at $3,358.70 an ounce.
In India, 24 karat gold costs ₹1 lakh for 10 grams. 22 karat gold is priced at ₹91,800 for 10 grams. For 18 karat, the rate is ₹75,110 per 10 grams, as per Goodreturns data.
The dollar opened weak this week. This is supporting gold near current levels.“Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large,” said Tim Waterer, Chief Market Analyst, KCM Trade.
Analysts expect gold to find fresh direction from the US Federal Reserve’s policy decision next week. Traders also watch the August 1 US tariff deadline for signs of a trade deal.Jateen Trivedi, VP Research Analyst, LKP Securities, said, “The recent swing in gold remains range-bound and volatile between $3,280–$3,370 an ounce. Focus now shifts to next week’s speech by Fed Chair Powell, which could offer fresh cues on interest rate direction and influence gold’s trajectory.”
In India, 24 karat gold costs ₹1 lakh for 10 grams. 22 karat gold is priced at ₹91,800 for 10 grams. For 18 karat, the rate is ₹75,110 per 10 grams, as per Goodreturns data.
The dollar opened weak this week. This is supporting gold near current levels.“Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large,” said Tim Waterer, Chief Market Analyst, KCM Trade.
Analysts expect gold to find fresh direction from the US Federal Reserve’s policy decision next week. Traders also watch the August 1 US tariff deadline for signs of a trade deal.Jateen Trivedi, VP Research Analyst, LKP Securities, said, “The recent swing in gold remains range-bound and volatile between $3,280–$3,370 an ounce. Focus now shifts to next week’s speech by Fed Chair Powell, which could offer fresh cues on interest rate direction and influence gold’s trajectory.”
Rahul Kalantri, VP Commodities, Mehta Equities, said bullion held key support levels last week. A stronger dollar capped upside but trade worries and central bank buying provided a floor.
“Gold has support at $3,330–3,310 an ounce and resistance at $3,370–3,390 an ounce,” Kalantri noted.
Markets also track the European Central Bank’s meeting this week. The ECB is likely to keep rates steady at 2.0%. Political developments in Japan and fresh talks between the US, EU, and China could add to the safe-haven demand for gold.
Experts say investors should watch upcoming US manufacturing data and Fed commentary for clues on gold’s next big move.
–With Reuters inputs
First Published: Jul 21, 2025 10:46 AM IS
