Gold prices slipped slightly on August 18 as traders focus on this week's FOMC minutes. The COMEX gold futures fell 0.51% to $4,450.80 per ounce. Silver also dipped 1.32% to $65.36 an ounce. London Bullion Market Association reported a spot gold price of $4,405.80 per ounce during the August 17 afternoon fixing. This level is slightly below the earlier week’s highs. Investors note the small decline as a potential sign of easing demand. In India, the MCX spot gold closed the Friday session on Aug. 14 at ₹1,53,608 for a 10‑gram piece. The price reflects global movements and local supply conditions. Retail buyers should note the current level before making purchases. The prices of 10‑gram gold in 24‑karat, 22‑karat and 18‑karat grades have moved today, showing the market’s sensitivity to purity differences. Each karat level reacts differently to price swings. Traders often compare them for hedging purposes. Gold prices vary across Indian cities, with Delhi, Mumbai, and Kolkata showing slight differences. Local demand, taxes and transport costs influence these variations. Buyers should check their city’s rates for accurate budgeting. Market participants remain cautious, awaiting the FOMC minutes for clear signals on the Fed’s rate outlook. A hawkish stance could lift gold prices, while a dovish tone might keep them subdued. Keeping an eye on both global and domestic trends will help investors make informed decisions.
Gold Prices Dip Slightly as Traders Await FOMC Minutes
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