Overview
- Domestic gold prices surged past ₹101,000 per 10 grams on August 5, marking a new high for Indian markets.
- Global spot gold hovered near $3,380 an ounce after US nonfarm payrolls rose by just 73,000 jobs in July, reinforcing expectations of a September rate cut.
- President Trump’s new tariffs on imports from nearly 70 countries boosted safe-haven demand amid escalating trade uncertainties.
- Central banks added record amounts of gold to their reserves in 2024, and strong ETF inflows continue to underpin prices.
- Volatile rupee movements, stockist profit-booking and robust festival and wedding demand are intensifying local price swings ahead of RBI and Fed policy decisions.