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As on : 04-Jul-2025

Other Markets - Bullion Markets
04-Jul-2025 15:07

Gold shines with weekly rebound as dollar tumbles to 3.5-year low

Gold advanced above $3,350 per ounce on Friday, poised to notch a weekly gain of nearly 2%, snapping a two-week losing streak. The rally was underpinned by mounting concerns over the US fiscal deficit and ongoing tariff uncertainties, which enhanced the metal's safe-haven allure. A sharp slide in the US dollar index to 96 ' its lowest level in three and a half years ' added further momentum. However, bullion's upside remained restrained by robust US labor market data, with June payrolls exceeding expectations at 147,000 and unemployment dipping to 4.1%, bolstering the Fed's case for a steady rate outlook. On the domestic front, MCX August gold futures climbed ₹227 to ₹97009 per 10 grams.

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