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4w ago

Indian Gold and Silver Hold Near ₹97,000 as Markets Brace for US Jobs Data and Tariff Deadline

Institutional buying by central banks alongside renewed ETF inflows signals broad-based demand despite bullion’s narrow trading range

Gold price today in US: The US dollar and stock index futures went up after new jobs data came out.
Gold price declined in international market as investors wait for US payroll data amid uncertain labour market.
Gold often does well when interest rates are low and during times of economic or political uncertainty.
Gold rates in the country come amid US President Donald Trump recently announcing that a trade deal between USA and India

Overview

  • On July 4, gold in India traded around ₹97,080 per 10 grams and silver near ₹1,08,380 per kilogram, showing minimal daily movement.
  • Last week’s surprise ADP jobs contraction and a weaker dollar index bolstered bullion, while markets price in a Fed rate cut as early as September.
  • President Trump’s July 9 deadline for reinstating reciprocal tariffs is seen as a potential catalyst for renewed price swings in gold and silver.
  • Central banks led by China and Turkey purchased over 50 tonnes of gold in June, and European gold ETFs recorded fresh inflows despite eased geopolitical risk premiums.
  • Analysts forecast bullion to remain rangebound near current levels until upcoming US nonfarm payrolls and policy developments deliver fresh direction.