Global gold prices rallied about 0.7% today, reaching $3,325/oz, buoyed by a weakening U.S. dollar and escalating fears over looming U.S. tariffs after the 9 July deadline. With the dollar at a three-year low and renewed expectations of multiple Fed rate cuts later this year, investors are flocking to bullion for safety and yield stability.
In India, this uptick translates into rising domestic gold demand and jewellers bracing for higher prices. The bullish trend in gold also impacts jewellery and investment sectors, where consumers may accelerate purchases before any further spike. Watch for potential gain in NBFCs and wealth managers focused on gold-based portfolios if global uncertainty persists.
