Gold Price Today: Gold prices rose on Monday (August 4), boosted by the weakness in the dollar index and the safe-haven flow fueled by US President Donald
Trump's tariff policies.
Multi-Commodity Exchange (MCX) gold futures for October 2025 per 10 grams were up 0.56 per cent or Rs 554 to Rs 1,00,264 per ounce as of 10:38 AM.
Mirroring the gains in the yellow metal, Silver futures for September 2025 gained by 0.80 per cent or Rs 882 to quote at Rs 1,11,140 (per kg).
The dollar index was down 0.44 per cent or USD 0.44 to trade at USD 98.70 as of 10:06 am IST. A weaker dollar makes gold more attractive to foreign buyers. In the currency market, the Indian Rupee fell 11 paise to 87.29 against the US dollar in early trade.
“After the payroll data on Friday, followed by fuel from President Trump's comment, Comex had inched upwards to give a higher closing. So, since MCX shuts at 11:30 (IST) MCX is reflecting the change now, but Comex spot is flat,” said Mrinesh Jain, Director, Bombay Bullion Metal Hub LLP.
“Dollar on a monthly basis looks weak and should retrace from the upward movements of the past week,” he added.
Donald Trump last week announced the imposition of a 25 per cent tariff on most Indian goods, which added fears of a global trade war.
Gold is traditionally regarded as a safe-haven investment during periods of economic or geopolitical instability.
Gold Price Today: State-wise rates
On Friday, new data from the Labour Department's Bureau of Labour Statistics showed that U.S. job growth slowed in July, with nonfarm payrolls rising by just 73,000, down from a revised gain of 14,000 in June.
On the geopolitical level, between 30 and 31 July alone, 105 Palestinians were killed and at least 680 more injured, as reported by the United Nations (UN) last week.
Pranav Mer, Vice President, EBG, Commodity & Currency Research at JM Financial Services, said that gold is likely to trade with a positive bias in the coming week, supported by rising expectations of interest rate cuts by the Federal Reserve, fresh volatility due to tariff noise and softening of US dollar.
"In the week ahead, gold prices may continue to trade steady but with a positive bias as focus now will turn on the impact of the US trade tariffs in the American economy and likely trade disruption in the global market as most countries would be looking to either negotiate the trade terms or look for an alternative market to sell their products or services," he said.
