On July 30, spot gold fell 1.5% to $3,275.92/oz after the Fed held rates at 4.25%–4.50% (9–2) and offered no guidance on when cuts might come.
Fed Chair Jerome Powell stressed that September isn’t decided, citing labor-market risks.
Strong U.S. data—July private payrolls beat expectations—boosted the dollar and undercut bullion. U.S. gold futures slid 0.8% to $3,352.80.
Other metals also tumbled: silver dropped 3.2% to $36.97, platinum plunged 6.6% to $1,303.19, and palladium fell 4.9% to $1,196.75.