Gold Rises 2% to $4,102 After Fed Keeps Rates Unchanged

Spot gold climbed 1.9% to $4,101.99 per ounce on July 29, 2026, after the FOMC held its federal funds target at 3.50–3.75% — unchanged since January. An $80 rally on a rate hold signals markets had expected a cut. When it didn't come, the repricing flowed into non-yielding gold, which pays no interest.