Federal Reserve holds rates at 3.5% to 3.75% for a fifth straight meeting

The US Federal Open Market Committee left its target rate unchanged at 3.5% to 3.75% at the close of its meeting on 29 July 2026 (Wednesday, 7 Mordad 1405). It is the fifth consecutive meeting at which the rate has been held. The decision was announced at 2 p.m. US Eastern time (21:30 Tehran), with a press conference by Fed Chair Kevin Warsh scheduled for half an hour later.

The decision came after June data showed a marked easing in US inflation, while the intensification of hostilities in West Asia during July pushed global energy prices higher and clouded the inflation outlook again. Ahead of the announcement, spot gold was trading 0.2% lower at $4,020.69 an ounce and the dollar index had firmed. On Sahmino's price feed, gold was recorded at $4,043 an ounce as of 21:29 on Wednesday, 7 Mordad.

US rates reach Iran's market through two channels: the path of the dollar index and the global gold price, both of which feed into the domestic gold and coin market.