Tag: Fed minutes

  • MCX Gold Slips 0.63% to Rs. 1,45,990 as Brent Crude Rises; All Eyes on Fed Minutes

    MCX Gold Slips 0.63% to Rs. 1,45,990 as Brent Crude Rises; All Eyes on Fed Minutes

    Gold futures on the Multi Commodity Exchange (MCX) traded lower on Tuesday, July 7, as investors awaited the release of the US Federal Reserve’s June policy meeting minutes for further clues on the central bank’s monetary policy trajectory. The August gold contract declined by 0.63% to settle at Rs. 1,45,990 per 10 grams.

    In the precious metals complex, September silver futures also witnessed a decline, falling 1.23% to Rs. 2,33,201 per kilogram. Meanwhile, in the energy market, Brent crude futures edged up 0.60% to $72.42 a barrel, while US West Texas Intermediate (WTI) crude advanced 0.51% to $68.90 a barrel.

    According to the CME FedWatch Tool, market participants now see a 56% probability of a rate hike at the Fed’s September meeting, down from the previous week’s reading of 60%.

    Domestic Gold Prices

    In the local physical market, 24-karat gold fell by Rs. 136 to Rs. 1,45,260 per 10 grams, while 22-karat gold declined by Rs. 125 to Rs. 1,33,150. Regional variations were observed: Mumbai and Kolkata quoted 24K gold at Rs. 1,45,260, Delhi at Rs. 1,45,410, and Chennai at Rs. 1,47,920.

    US Gold Prices

    US gold prices eased on Tuesday, trading below a two-week high, as investors adopted a cautious stance ahead of the Fed minutes. Spot gold fell 0.6% to $4,138.32 per ounce, and US gold futures for August delivery dipped 0.4% to $4,149.90.

    Among other precious metals, spot silver slipped 1% to $61.48 per ounce, platinum eased 0.1% to $1,629.46, while palladium posted a modest gain of 0.4% to $1,272.85.

    Key Levels to Watch

    “Gold price action looks like a continuation of last week’s basing, forming a support level. The market is clearly waiting for direction from the Fed minutes to get a better sense of the Fed’s thinking on short-term interest rate policy,” said Nicholas Frappell, global head of institutional markets at ABC Refinery.

    Internationally, gold has support at $4,135 and $4,100 per troy ounce, with resistance at $4,194 and $4,220. Silver support stands at $61.20 and $59.80, while resistance is seen at $63.40 and $64.20. On MCX, gold support is at Rs. 1,46,100 and Rs. 1,45,500, resistance at Rs. 1,47,400 and Rs. 1,48,200. For silver MCX, support is at Rs. 2,33,300 and Rs. 2,30,000, with resistance at Rs. 2,38,800 and Rs. 2,41,000.

    Investors remain focused on the Fed minutes release scheduled later this week, which could provide clearer signals on the timing and pace of potential rate adjustments.

  • Bitcoin Reclaims $63,251 as ETF Inflows Return and CLARITY Act Stalls – July 6 Market Update

    Bitcoin Reclaims $63,251 as ETF Inflows Return and CLARITY Act Stalls – July 6 Market Update

    Bitcoin is trading near $63,251.48, up 0.68% over 24 hours and 5.91% higher on the week, as spot ETF inflows return after a record outflow streak in June. The token has climbed above its late-June lows near $58,000, with a market cap of approximately $1.26 trillion and 24-hour volume near $19.28 billion.

    Hyperliquid and BNB lead today’s gainers, while the CLARITY Act misses its symbolic July 4 signing deadline in the Senate. The Fear and Greed Index sits at 28, still cautious but improving from June’s extreme fear reading of 18.

    Market Dynamics and Analyst Commentary

    Akshat Siddhant, Lead Quant Analyst at Mudrex, noted: “Bitcoin climbed sharply over the weekend as thin liquidity during the holiday period amplified buying activity. Sentiment improved after spot ETFs attracted $224 million in net inflows, ending a six-day outflow streak. Bitcoin’s realized profit-and-loss ratio dropped to its lowest level in 43 months, a metric that has historically marked major bottoms. Mondays have stayed weak recently, so a failure to hold $64,000 could send BTC back toward $60,500.”

    Riya Sehgal, Research Analyst at Delta Exchange, added: “Bitcoin’s rebound has been supported by short covering and a weaker dollar after oil prices eased. US spot Bitcoin ETFs saw $223.5 million in net inflows on July 2, reversing the prior day’s $296 million outflow. Ethereum ETFs logged a second straight positive day. BTC stays capped below its 200 EMA near $63,920, making $64,000 the key breakout level.”

    According to the CoinSwitch Markets Desk: “BTC is holding near its highest level in two weeks after a modest bounce, but it has struggled below this zone for weeks. The Fed releases its meeting notes soon, and a hawkish tone could pressure prices again. Wednesday’s Fed update remains the one to watch.”

    Top 10 Crypto Prices at a Glance (July 6)

    • Biggest Gainers: Hyperliquid (+3.71%), BNB (+2.25%)
    • Biggest Losers: Solana (+0.13%), XRP (+0.48%)

    Key Crypto News Driving Sentiment

    Spot Bitcoin ETFs Snap Outflow Streak

    Spot Bitcoin ETFs recorded $223.5 million in net inflows this week, reversing a prior single-day outflow of nearly $300 million. Spot Ethereum ETFs also logged a second straight day of positive flows, signaling improving institutional appetite after June’s record redemptions.

    CLARITY Act Misses July 4 Deadline

    The White House had targeted July 4 for signing the CLARITY Act into law. Senate cloture math remains short of the 60 votes needed, and prediction markets have trimmed 2026 passage odds. A House Financial Services Committee hearing is expected later this month.

    Satoshi’s Bitcoin Freeze Debate Resurfaces

    Binance founder Changpeng Zhao suggested Satoshi Nakamoto’s estimated 1.1 million BTC should be frozen before quantum computing advances threaten old wallets. The proposal has split the community, with critics calling it a violation of Bitcoin’s core neutrality principle.

    Aptos Blockchain Flaw Patched After Disclosure

    Security researchers identified a critical flaw in the Aptos blockchain that could have exposed roughly $70 billion in crypto assets. The bug has since been patched, and the disclosure has renewed attention on smart contract audits across major chains.

    Investor and Market Outlook

    Bitcoin enters the second week of July in a cautiously improving position. The Fear and Greed Index sits at 28, still guarded but well above June’s extreme fear reading of 18. ETF inflows are returning, though a sustained move above $64,000 remains the key confirmation traders want before calling a firm bottom.

    The macro calendar stays active this week, with Fed meeting notes due and the CLARITY Act’s Senate path still unresolved. Investors should track daily ETF flow data, Bitcoin’s ability to hold above $60,500, and any fresh signal on the July 29 FOMC decision. Avoiding excess leverage remains the practical priority until $64,000 is reclaimed with volume.

    Frequently Asked Questions

    What is the Bitcoin price today? Bitcoin is trading near $63,251.48 today, up 0.68% over the past 24 hours and 5.91% higher on the week. Support holds near $60,500, while resistance sits at $64,000.

    Why is Bitcoin recovering in July 2026? Spot Bitcoin ETFs snapped a six-day outflow streak after fresh inflows arrived this week, easing the selling pressure that pushed BTC to a 21-month low in June. Improving on-chain metrics have also supported the bounce.

    What is the biggest crypto news today? The CLARITY Act missing its symbolic July 4 signing deadline, returning spot ETF inflows across Bitcoin and Ethereum, and the resurfacing debate over freezing Satoshi Nakamoto’s dormant wallet are the top stories driving sentiment today.

    Which coins are gaining the most today? Hyperliquid leads the top ten with a 3.71% gain, supported by rising on-chain trading volume. BNB follows closely at 2.25%, while Solana and XRP trail the broader market with smaller single-day moves.

    What should crypto investors watch this week? Monitor daily spot ETF flow data closely, along with any signal from the Fed’s upcoming meeting notes. Bitcoin’s ability to hold above $60,500 and reclaim $64,000 with strong volume remains the key technical trigger heading into late July.