FOMC Holds Rates, Three Dissents Favor Hike; Dollar Falls, Gold and Silver Rebound

Published: Jul 30, 2026 09:25

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[SMM Precious Metal Express] The July FOMC voted 9-3 to hold the federal funds rate at 3.50%-3.75%, with all three dissents favoring a 25bp hike — the first time since 2016 that three dissenting votes occurred at the same meeting. Following the decision, the dollar index briefly fell below 101 before closing down 0.59% at 100.81. Precious metals rebounded after dipping during the session, with spot gold closing at $4,066.38/oz, up 0.94%, and silver at $57.65/oz, up 0.92%.

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