New Delhi, July 2, 2025: Gold prices scaled a one-week peak on Tuesday, steered by simmering US dollar’s weakness and uncertainty surrounding the US tariffs talks.
Spot gold rose by USD 44.01 or 1.33 per cent to USD 3,346.92 per ounce.
Gold prices rebounded Rs 1,200 to Rs 98,670 per 10 grams in India on Tuesday, according to the All India Sarafa Association.
The gold prices of 99.9 per cent purity had settled at Rs 97,470 per 10 grams on Monday.
Gold of 99.5 per cent purity climbed by Rs 1,100 to Rs 98,150 per 10 grams (inclusive of all taxes) on Tuesday in India. It had closed at Rs 97,050 per 10 grams in the previous market close.
President Donald Trump has also threatened new tariffs on Japan ahead of the July 9 deadline for the implementation of reciprocal tariff. These shifts are helping non-yielding assets like gold hold up, especially with inflation expectations still running high.
In addition, silver prices rallied by Rs 2,000 to Rs 1,04,800 per kilograms (inclusive of all taxes) on Tuesday in India. The white metal had finished at Rs 1,02,800 per kg on Monday.
Traders also said that Federal Reserve Chair Jerome Powell’s commentary will also provide further cues on the interest rate path, influencing further movement in the gold prices.
