Overview
- A softer-than-expected June jobs report that showed about 57,000 payrolls boosted gold last week by cutting near-term Fed hike odds, but a Monday dollar rebound trimmed those gains.
- International spot gold is trading around $4,170–$4,175 per ounce after intraday weakness pushed prices slightly lower from last week’s two-week high.
- India and Pakistan saw same-day domestic declines, with 24K gold in Mumbai near Rs 1,46,620 per 10g and Pakistan tola rates reported between roughly Rs437,436–Rs439,836.
- MCX August gold futures traded just below the prior close near Rs 1,47,135 per 10g while silver recorded sharper domestic drops, for example falling about Rs 5,000 per kg in Delhi.
- Traders say the next clear moves will come from the Fed’s June meeting minutes and U.S. inflation readings because changes to rate expectations and Treasury yields directly alter gold’s appeal and affect consumers, jewellers and futures traders who face daily price swings.