Latest Update
Global gold prices continue their upward march, driven by weaker U.S. employment data and growing trade tensions. In India, the price of 24‑carat gold is ₹10,141 per gram (₹1,01,410 per 10g), up ₹1 from the previous day, while spot gold in the U.S. is around $3,375.89 per ounce—marking the fourth straight session of gains.
India’s 7-Day Gold Price Trend (24 K, ₹ per 10 g)
| Date | 24 K Price (₹/10g) | Daily % Change |
| Jul 29 | ₹99,820 | — |
| Jul 30 | ₹1,00,480 | +0.66% |
| Jul 31 | ₹1,00,030 | −0.45% |
| Aug 01 | ₹99,820 | −0.21% |
| Aug 02 | ₹1,00,270 | +0.45% |
| Aug 03 | ₹1,00,270 | 0.00% |
| Aug 04 | ₹1,01,410 | +1.14% |
(Source: GoodReturns India rates)
What’s Fueling the Recent Gold Rally?
1. U.S. Economic Weakness
Recent job numbers revealed only 73,000 new jobs in July—a disappointing figure that stoked expectations of a rate cut by the Federal Reserve in September. With the yield on Treasury bonds falling, gold becomes more attractive.
2. Escalating Tariff Tensions
President Trump’s administration has raised tariffs on imports from countries including India, Brazil, and Canada, increasing inflationary pressure and market volatility—conditions under which investors often turn to gold as a safe haven.
3. Dollar Weakness & Falling Yields
A weakening U.S. dollar makes gold cheaper for foreign buyers. Simultaneously, global bond yields are declining, further supporting gold’s appeal.
4. Inflation Hedge
With inflation surging and economic growth slowing, investors seek assets that preserve value. Gold consistently serves as a hedge during such uncertain periods.
Easy-to-Understand Summary
- Week Start (Jul 29–Aug 2): Gold prices fluctuated between ₹99,800 and ₹1,00,030 per 10g, showing minor ups and downs.
- Aug 4–5 Breakout: A sudden rise (over 1%) driven by weak U.S. jobs data and strong rate-cut expectations lifted it to ₹1,01,410.
- U.S. Context: Spot gold climbed to $3,375.89/oz as the Fed’s rate-cut outlook firmed with nearly 90% certainty.
Key Takeaways for Investors
- If you already hold gold, consider booking profit while prices are elevated.
- For new buyers, a staggered (SIP-like) purchase strategy may be prudent.
- Long-term investors can view gold as a safe haven during economic turbulence.
What Lies Ahead?
Should Fed rate cut speculation intensify or trade tensions widen, gold could test levels above $3,450/oz or ₹1,05,000/10g in India. However, any surprise improvement in U.S. economic data could temper the rally.
