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Free Press Journal

India gold jumps Rs 3,000 to Rs 1.47 lakh per 10 grams on July 2 as softer dollar lifts demand

AI Market Summary
Gold rebounded as a softer USD, driven by yen strength and a less hawkish tone from Fed Chair Kevin Warsh, improved bullion's relative appeal for non-USD buyers. Spot gold rose ~1% alongside gains in silver, indicating renewed precious-metals demand after a brief pullback. Near-term attention shifts to US nonfarm payrolls, which could reset rate expectations and drive volatility in gold and the dollar.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+0.95%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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On July 2, gold prices in India rebounded by Rs 3,000 to Rs 1.47 lakh per 10 grams, while silver rose to Rs 2.40 lakh per kg. The move followed a less hawkish tone from US Federal Reserve Chair Kevin Warsh, which eased rate-hike concerns, alongside a stronger yen that helped push the dollar index (DXY) lower. In global markets, spot gold climbed 1% to USD 4,070.04 per ounce and silver rose 1.3% to USD 59.89 per ounce.
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