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Free Press Journal

India gold jumps Rs 3,300 to Rs 1,50,800 per 10 grams on July 3 as weaker dollar lifts bullion

AI Market Summary
Gold and silver extended a multi-session rally as a weaker USD and softer US labor data reduced expectations for further Fed tightening, supporting precious-metals demand. Spot gold rose ~1.4% toward USD 4,200/oz while silver outperformed, with Indian prices rebounding after prior selling pressure tied to an import-duty hike. Near-term focus shifts to FOMC minutes for confirmation of policy-path easing.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-0.24%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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On July 3, gold prices in India rose Rs 3,300 in a day to Rs 1,50,800 per 10 grams, moving back above the Rs 1.5 lakh level. Silver climbed Rs 5,000 to Rs 2,45,000 per kilogram. Spot gold gained 1.4% to USD 4,181.50 an ounce, while spot silver rose 2.44%. Analysts said a softer dollar index and fading expectations of further Fed rate hikes, reinforced by weaker-than-expected US jobs data and remarks from officials, supported precious metals.
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